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A researcher has developed the following regression equation to predict the prices of luxurious Oceanside condominium units,
Picture ,
wherePrice = the price of a unit (in $thousands),Size = the square footage (in square feet),View = a dummy variable taking on 1 for an ocean view unit, and 0 for a bay view unit.
What is the predicted price of an ocean view unit with 1500 square feet?
Suppose there are n identical firms in a market. Each firm's cost function is given by C = 240+ 15q2, where q is the amount that an individual firm produces. This means that an individual firm's marginal cost is given by MC = 30q. Also, the marke..
Chez Henri is a restaurant chain that operates in forty different cities. It employed an economist to determine the factors affecting the demand for its sales.
Director of marketing at Vanguard Company believes that sales of the corporation's Bright Side laundry detergent (S) are related to Vanguard's own advertising expenditure,
Construct and show a gross margin budget for the activity. Construct and show a whole farm budget. Advise the farmer on the current and future profitability of the farm and possible options to improve performance.
In Avataria one-forth of all females born die in infancy, and the rest of them live until age 60. Women bear 1 child at age 18, 1 child at age 24, 1 child at age 26, and 1 child at age 30. One-half of children are boys.
Calculate the net private benefits of the project to the foreign-owned company, as a net present value and calculate the net social benefits of the project from the viewpoint of the Australian economy, with the same criterion.
Research the current value of the following economic indicators: Analyze the current macroeconomic situation. Discuss expectations of changes in economic, financial, and international conditions in the near future. Identify any economic issues of ..
For the same loan described under Q1, the individual decides that instead of selling the house after the 71st payment, to keep it and shorten the pay off period by increasing the montly payment by $150 each month. What is the number of months re..
The machining time per piece if 0.164 h, and the machine loading time is 0.038h. With an operator rate of $12.80/h and a machine rate of $14/h, calculate the optimal number of machines for the lowest cost per unit of output.
Assume that the LM curve for a small open economy with a fixed exchange rate is given by Y = 200r - 200 + 2(M/P). This IS curve is given by Y = 400 + 3G - 2T + 3NX - 200r. The function for the net exports is NX = 200 - 100e, where e is the..
Suppose Venezuela imports TV sets at a price of $150 each. Under free trade, how many sets does Venezuela produce, consume, and import? Determine Venezuela's consumer surplus and producer surplus. b. Assume that Venezuela imposes a quota that limit..
Each firm in a competitive market has a cost function of \(C=q+q^{2}+q^{3}\) The market demand function is Q = 24 - p. Determine the long run equilibrium price, quantity per firm, market quantity, and number of firms.
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