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Let C be total consumption expenditures of a family, and S the size of the family. Formulate an econometric model that the marginal effect of family size on consumption is a constant. What is the expected sign of the relevant coefficient? Formulate an econometric model that the marginal effect of family size on consumption decreases as S increases (because of economies of scale in cooking, rents and so on). What are the expected sign(s) of the relevant coefficient(s)?
Explain using the labor/leisure model and words, how a progressive income tax will affect the budget constraint of the worker and their behavior or how a tax preference (tax deduction) will affect consumption choices.
The relevant cost index was 120 4 years ago. The cost then for a gas station tank of 1,500 gallons was $40,000. We want to now purchase one size 4,500 gallons but the purchased price cost index is now 300. Assuming a power law size model with exponen..
What is the necessary requirement to turn a business idea into a business? If you don't have customers willing to buy your new product or service at a price that gives you a profit, do you really have a business?
_______All of the following would be external sources for recruiting except
Illustare what is the maximum amount of new money that can be created in the banking system as a result of this deposit.
Choose a product from the list. Name and describe the product category below. What types of products are included? Breakfast Cereal,,Dairy products, Footwear, Fruits and Vegetables (canned, pickled and dried) Household cleaning products, Household co..
Elucidate what type of returns to scale does this technology represent.
Can the researcher say with a 0.05 level of significance that the proportion of children not completing primary school is more than 1%.
the assignment is to determine the same information on the demand for gasoline tab using the information in the example
Illustrate the opportunity cost between the two goods is always constant. Which of the following combinations of the two goods, X and Y, is it possible for the economy can produce?
Suppose the United States sets a limit on the number of tons of sugar that can be imported each year. This is an example of a(n )?
Draw the 3 graphs required to show the impact on overall GDP of a decrease in the money supply. Also carefully explain, in your own words, the relationships between the graphs, the process of adjustment, and the overall impact of the money supply dec..
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