Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
An MBA student has proposed the following demand equation for good Y. QdY = a + b PY + c M where: QdY = quantity demanded of good Y in millions of tons per year PY = Price of good Y in dollars per ton M = Average consumer income in thousands of dollars i. What sign should this student expect a, b, and c to have? Explain. The regression output from the computer is as follows: Dependent Variable: QdY R-Square F-ratio p-value on F Observations: 90 .4 12.84 0.015 Variable Parameter Estimate Standard Error T-ratio P-Value Intercept 60.00 5468.32 3.12 0.0082 PY -1.00 0.65 -1.27 0.2145 M 0.02 3.29 5.12 0.0121 This economist is confortable using parameter estimates that are statistically significant at the 10 percent level or better. ii. Does PY have a statistically significant effect on the quantity demanded of good Y? Explain, using the appropriate p-value. iii. Does M have a statistically significant effect on the quantity demanded of good Y? Explain, using the appropriate p-value. iv. What fraction of the total variation in the quantity demanded of good Y remains unexplained? What can the student do to increase the explanatory power of his demand equation? What other variables might he add to his demand equation? v. What is the expected quantity demanded of good y when PY = 200 and M = 10,000?
Using a spreadsheet program, chart the book value of a $14 000 asset over a seven-year life using declining-balance depreciation (d = 0.2). On the same chart, show the book value of the S14 000 asset using straight-line depreciation with a scrap valu..
When transaction costs are low enough, efficient resource allocation will follow regardless of the particular assignment of property rights. When transaction costs are high enough, efficient resource allocation requires assigning property rights to t..
Identify and discuss at least two economic phenomena for which the linear-in-parameters/linear-in-variables regression model may not be appropriate (besides any mentioned in the text).
Bill gets utility from consuming food (F) and clothing (C) represented by the following utility function: U(F,C) = FC + F. The price of food is $1 per unit and the price of clothing is $2 per unit. Bill’s income is $22. Graph Bill’s budget constraint..
Which of the following statements supports how the following event could occur: A drought around the world raises the total revenue that farmers receive from the sale of grain, but a drought only in Kansas reduces the total revenue that Kansas farmer..
You are the project executive of a monopolistically competitive firm. The present demand curve is P=100- 4 Q. Your total cost equation is C(Q)=50+8.5Q^2 , and MC = 17Q. What level of output should you set to maximize profits?
Identify the various actors of intergovernmental relations involved in the case. In general, what does this case tell you about the complexity of IGR in this country and the work of public administrators in the 21st century?
Suppose a consumer's preferences can be represented by the utility function: U(X,Y)=X^3/5Y^1/4. Derive the function for the marginal rate of substitution holding utility constant. Derive the demand curves for the two goods, X and Y.
For each item below, draw a graph with quantities of pepperoni pizza on the horizontal axis and quantities of anchovy pizza on the vertical axis to illustrate the following situations. In each case draw two different indifference curves and make a li..
A large bakery buys flour in 25-pound bags. The bakery uses an average of 4,900 bags a year. Preparing an order and receiving a shipment of flour involves a cost of $10 per order. Annual carrying costs are $75 per bag. Compute the total cost of lordi..
A nation will gain from trade if it:
Ethical relativism is best described as what type of a theory?
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd