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Florida Citrus Mutual, an agricultural cooperative association for citrus growers in Florida, needs to predict what will happen to the price and output of Florida oranges under the conditions below. What are your predictions? For each part, sketch a graph showing the appropriate demand and supply analysis.
Plot residual by time and explain residual plot where you find any problem. Do we violate any 7 assumptions of OLS. If so, what are consequences.
Why as a result of rise in exchange rate, the amount of imports fall but not as much as it does when the supply is perfectly elastic.
Assume you consider participating in a sealed-bid second price auction for a vintage car in which the winner of the auction (the bidder who submits the highest bid) only has to pay the second highest bid that was submitted.
In the movie Princess Bride, the hero disguised as the pirate Westley is engaged in a game of wits with the villain Vizzini. Westley puts poison in either his own glass of wine or in Vizzini's glass. Construct the payoff matrix for this game. Assume ..
Consider an economy inhabited by overlapping generations of two-period-lived individuals, each of whom receives an endowment of y in the first period of life and none in the second. The population of newborns grows as follows: Nt = nNt−1, where n > 1..
Understanding the importance of demographics is a key to marketing success. Baby boomers, Gen X, Gen Y a, Milleanials and seniors are all indifferent stages in life and have different wants and needs. Some products are specifically targeted t demogra..
Identify the following as primarily public or private sector projects. a. Bridge across Ohio River b. Coal mine c. Baja 1000 race team d. Consulting engineering firm e. County courthouse f. Flood control project g. Endangered species designation h. F..
Suppose that annual income from a rental property is expected to start at $1,000 per year and increases at a uniform amount of $50 each year after the first year for the 10-year expected life of the property. Assume an interest rate of 10%/year. Assu..
Let X ∈ [0, 10] and y = f(x) = cx with c > 0. What is the slope of f(x)? Is it constant or it depends on x? What is the value of f(x) when x = 3?
Discuss how the Dual-Concern Model and Big Five Personality Dimensions facilitate recognizing bargaining styles and how such styles impact behaviors and strategies in a negotiation.
Stroika Concrete makes bags of easy-use concrete for the DIY market. The company mixes their concrete using two ingredients, "Great Grit" and "A1 Aggregate". Great Grit costs L1 per kilogram and consists of 20% fine sand, 40% coarse sand and 40% grav..
What interests or surprises you about the summary table? How does that rate compare with the rate in the previous month or quarter? Discuss the differences in unemployment rates by gender, age, education, etc.
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