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Consider a family saving function for the population of all families in the United States:
sav = β0 + β1inc + β2hhsize + β3educ + β4age + u
where hhsize is household size, educ is years of education of the household head, and age is the the age of the household head. Suppose our sample includes only married couples without children. Can we estimate all of the parameters in the saving equation? Which ones can we estimate?
Determine the Slutsky Equation. Income-Substitution Effect: The Slutsky Equation A fall into the price of a good may have two sorts of consequences: substitution effect, whe
suppose the production function is given as:X=b0Lb1Kb2,where b0=level of technology find marginal product of factors(MPL0and MPK) find factor intensity
Consumer Choice * Decision making & Public Policy - Selecting from a non matching and matching grant to fund police expenditures
#question meaning ..
How we constract the cost structure of firms
Price/Earnings (P/E) Ratio This is a measure of an organization investment potential. Literally, a P/E ratio is how much a share is worth per dollar of earnings. The price-earn
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meaning of opportunity cost
x-3y+6z=1 2x-5y+10z=0 3x-8y+17z=1
Explain about the perfect competition according to economics theory. The procedure of testing and refining theories is the key to the development of modern economics like a sci
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