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Suppose David spends his income (I) on two goods, x and y, whose market prices are px and py, respectively. His preferences are represented by the utility function u(x; y) = lnx + 2lny (MUx = 1=x;MUy = 2=y).a. Derive his demand functions for x and y. Are they homogeneous in income and prices?b. Assuming I = $60 and px = $1, graph his demand curve for y.c. Repeat part (b) for the case in which px = $2.
Obtain standard errors of your estimates in part (a) using the Wild bootstrap with and using the bootstrap (with B = 9; 999) test H0 : 2 = 0 vs. H0 : 2 = 0 at the 5% level.
Clean Supreme is a corporation that produces and sells powdered laundry detergent in the U.S. The company has estimated the following regression equation for the demand of its Brand Z detergent:
A country is described by the Solow Model with a production function y = \(k^{1/2}\) where y is output per worker and k is capital per worker. Now suppose that the fraction of output invested (or saved) is 50%. Assume that the depreciation rate is..
You are attending the yearly shareholder's meeting of PIC firm. A fellow stockholder points out that manager of PIC received $100,000 last year, while the manager of a rival company, CUP Enterprises, earned only $50,000.
The price at point a is $70 and the price at point c is $10 per bag. The price at point d is $56 and the price at point e is $31 per bag. The price at point f is $67 and the price at point g is $32 per bag.
Wilpen Corporation, a price-setting company, manufactures nearly 80% of all tennis balls purchased in the United States.
Derive the intertemporal Euler equation and what is the optimal level of C1 given the endowments, R, and ? What?s theoptimal level of C2?
Using the similar 6-economic indicators selected for your Industry Overview Paper, differentiate at least two year forecasts from two separate sources,
Interpret the coefficient of LOG (AVGINC). Are its sign consistent with your expectations and determinant factors that explain students' performance in fifth-grade tests. We observe a sample of 420 districts in California
Real gdp per capita Labor productivity What was the growth rate of the population between 2008 and 2009, round to the nearest percent ?
Examine the charts and correlation tables. Do men or women pay (on average) higher rents? How can you tell?
Explain the term demerit goods and give examples of this and what are externalities? What are positive and negative externalities?
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