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You want to estimate whether there is a relationship between gender and smoking at your university. You collect data for a random sample of 200 students and run a linear probability model, a probit model and a logit model, where the dependent variable is a binary indicator for whether an individual smokes, and the main explanatory variable is a dummy variable indicating males (you also include other controls such as age). Your estimated coefficients are 0.084 in the LMP, 0.688 in the probit model, and 0.389 in the logit model. In spite of these large differences, all three models yield similar estimates of the marginal effect of gender on the probability of smoking. How can this be?
Draw a supply and demand curve for the labor market. Label the demand curve D4 and the supply curve S4. Label the horizontal axis write "Quantity of Labor" and the vertical axis "Wages".
Suppose a new manufacturing technology results in an expansion in the supply of electric batteries backup (EBB) in FL of 15%. If the elasticity of demand of EBB sold in FL is -0.4, What would be the new equilibrium price
Suppose the productivity of labor and capital are as shown in the accompanying table. The output of these resources sells in a purely competitive market for $1 per unit. Both capital and labor are hired under purely competitive conditions
an office receives 20 faxed orders every two hours.1 what is the probability that it will receive 8 orders in the
The Xerxes Company is composed of a marketing division and a production division. The marketing division packages and distributes a plastic item made by the production division. The demand curve for he finished product sold by the marketing divisi..
Consider a Stackelberg duopoly game of quantity competition. Firm #1 is the "Leader" and firm #2 is the "Follower." Market demand is given by the inverse demand function p=100-4Q.where Q=q1+q2 is the total output of the two firms.
A consumer of two goods faces positive prices for both goods and has positive income. Her preferences over consumption of good 1 and good 2 are represented by the following utility function: u(x1; x2) = min {2x1 + x2; x1 + 2x2}
What is the average total cost for the 10th unit of output 4. Why does the marginal cost of producing the product fall and then rise (What is the relationship between the cost curves and the production function)
A monopolist sells to a market in which the fraction of buyer types whose valuation is v or less is given by F(v). The lowest valuation customer in the market is a customer with v = k, so we have F(k) = 0.
2 former students worked in an investment bank at a salary of $60,000 each for 2 years after they graduated. together they saved $50,000. After 2 years, they decided to quit and start a business.
Who does protectionism protect? What does it protect them from?
an individual wishes to deposit an amount of money now and 100 every six months so that at the end of five years 1500
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