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Looking at a large CPS data set with over 60,000 observations for the United States and the year 2004, you find that the average number of years of education is approximately 13.6. However, a surprising large number of individuals (approximately 800) have quite a low value for this variable, namely 6 years or less. You decide to drop these observations, since none of your relatives or friends have that few years of education. In addition, you are concerned that if these individuals cannot report the years of education correctly, then the observations on other variables, such as average hourly earnings, can also not be trusted. As a matter of fact you have found several of these to be below minimum wages in your state. Discuss if dropping the observations is reasonable.
Sketch a well labeled graph showing the impact of the tax. On whom does the tax burden fall-the team's, owners, the fans, or both.
Just construct the diffusion index from month 2 to 3. In this problem, we have three leading indicators. The diffusion index from month 1 to 2 is 66.7 (=2/3) because two indicators move up and one moves down.
Opponents of NAFTA point out that pollution is largely a free good in Mexico also that being free to pollute gives industries in Mexico an economic advantage over those in the U.S. also Canada.
Do you believe that a “culture of entitlements” exists that contributes to the budget crisis? Does this concept carry over to corporate culture?
following weekly demand and short-run cost functions:VC = 20Q+0.006665 Q2 with MC=20 + 0.01333Q and FC = $5,000
At a product price of $52, will this firm produce in the short run. Illustrate what will profit or loss be. Complete the following short-run supply schedule for this firm.
The trade or business of manufacturing dolls and accessories
What determines market prices, assuming a competitive market and there are no artificial restrictions in the market? How does the market arrive at an equilibrium?
Elucidate how has the number of payroll jobs changed over the last 3 months and over last year in Antigua and Barbuda.
Suppose that a firm's only variable input is labour. When 50 workers are used, average product of labour is 50 and marginal product of labour is 75. Wage rate is $80 and total cost of fixed input is $500. Illustrate what is average variable cost. ..
compute the test statistic. at 95% confidence test to determine if the is a significant difference in the means of the 3 populations.
Compute the firm's profit from part d. Solve algebraically for the profit maximizing quantity (QM) and price (P M). You should get the same answer as in d.
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