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Just the Fax, Inc. (JTF) has hired you as a consultant to analyze the demand for its line of telecom munications devices in 35 different market areas. The available data set includes observations on the number of thousands of units sold by JTF per month ( Q X ), the price per unit charged by JTF ( P X ), the average unit price of competing brands ( P Z ), monthly advertising expenditures by JTF ( A ), and average gross sales (in thousands of dollars) of businesses in the market area ( I ). The results of a regression analysis (with standard errors in parenthesis) are given below. Q X = 300 - 6 P X + 2 P Z + 0.04 A + 0.01 I (200) (1.8) (0.8) (0.03) (0.004) R 2 = 0.91 The values in parenthesis are standard errors (SE) . Answer the questions following using the table below:
i. Calculate the t statistic (ratio) for the intercept and the four variables
ii. Based on the calculated T statistic, indicate whether the coefficients in the demand equation are significant
Providing the current situation with General Motors, our team is recommending that they (GM) reduce their current operations in order to maximize profits.
The Chinese Renminbi was pegged to the USD before July 2005. Using the IS-LM-FX model for Home (China) and Foreign (US), illustrate how a decrease in G in China before July 2005 affected the following Chinese variables (increase, decrease, no chan..
Supply-Side Economics) One supply-side measure introduced by the Reagan administration was a cut in income tax rates. Use and aggregate demand/aggregate supply diagram to show what effect was intended. What might happen if such a tax cut also shifted..
Which of the following is a long-run macroeconomic policy goal? If the CPI was 132.5 at the end of 2003 and 140.2 at the end of 2004, the inflation rate over these two years was
Explain why should a government be concerned with the pricing of products that a company transfers.
Short term Treasury bills [3 and 6 month] have current annual rates of interest around 0.5%. Use that info plus your best forecast of inflation to calculate the real rate of interest on those bills.
Show graphically and explain in words how Type IA, IB, IC and Type II average variable cost (AVC) and marginal cost (MC) curves in Figure 2-1 can be derived from a set of production functions, marginal and average productivity curves, variable cost c..
a) Derive the consumer's budget constraint and its choice variables (ie. the total amount of hours worked and leisure as a function of wage) b) Derive the consumer's marginal rate of substitution dC/dR
What is the most important characteristic of monopolistic competition? How do firms behave differently from perfect competitors? What are the implications of having a large number of firms in a monopolistically competitive market?
What are the highest and lowest payments from the writer that the beekeeper=farmer team will accept for the sixth day Assuming that the farmer can dispose of $7 of the writer as she wishes, what range of payments will the beekeeper accept
Identify three professional skills that are required to be a successful database administrator (DBA). How would each of these skills help the DBA support organizational operations and strategies?
1:-Find out equilibrium price and output for the following market condition.
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