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Describe how the budget constraint of a house hold in a two period model is affected by each of the following changes. In each case, do you think the household is better of f or worse off, or is the answer ambiguous? If ambiguous, what does the answer depend on?
Law of Demand indicates that there is the inverse relationship between price and quantity, why does it matter which particular mix of price and quantity is selected?
Examine your Y data (excluding the hold out period) to determine if it needs to be differenced to make it stationary. Show a time series plot of the raw Y data and autocorrelation functions (ACFs).
S hould the Australian Commonwealth government and the various Australian state and territory local government grants commissions use matching grants or non-matching grants or both grant mechanisms to fund local government programs?
Whats her expected utility of having a car without insurance and what would be the price of a "Fair" full insurance plan? Would Chen buy full insurance for her car at this price
On Valentines Day, the prices of flowers and chocolate are usually high compared to other times. How do the principles of demand and supply describe the reasoning behind such price increases?
Discuss and explain the major barriers to entry into a industry. Describe how each barrier can foster monopoly or oligopoly.
As an worker of World Bank, you have been tasked to research one economic concern in an Asian nation and write a report on your findings.
What are the pros and cons of conducting an experimental versus an observational study? What are examples of these studies? Can both types of studies be used for all projects?
What factors can contribute to unemployment and how can technology lead to greater unemployment, or is it a benefit to the economy?
Libertyville has two optometrists, Dr. Jones (J) and Dr. Smith (S). Each optometrist can choose to advertise his service or not. The net revenue to each optometrist, in thousands of dollars, is listed on the payoff matrix below
What is the profit-maximizing level of output of master cream (in bottles)? What is the profit-maximizing price? What is the maximum level of profit?
Can you draw well-functioning preferences (i.e., they follow our assumptions about preferences) such that X is a normal good and Y is a substitute for X and draw the demand curve and indicate the portions that are elastic, inelastic, and unitary el..
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