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What is meant by complete specialization? by incomplete specialization? Why do both nations gain from trade in the first instance but only the small nation in the second?
Is there an efficiency gain compared with your answer in the previous question? Use the estat abond command to test whether the errors air are serially =correlated. Use the estat sargan command to test whether the model is correctly specified.
State carefully the ceteris paribus assumption in this case. Do you think this simple regression of Y on X satisfies that assumption? Why or why not?
Industry A is composed of five large firms and 100 small firms. The market shares of the five largest firms are, respectively, 30, 25, 20, 15, and 10. The 100 small firms together have the remaining market share. Calculate the Herfindahl-Hirshman ..
Determine net income for the period if beginning stockholders' equity is $19,000, dividends declared amount to $7,000, ending stockholders' equity is $37,000 and the corporation issued $1,000 of common stock.
the time it takes a worker on an assembly line to complete a task is exponentially distributed with a mean of 8 minutes. What is the probability that it will take a worker between 6 and 10 minutes to complete the task
The accompanying graph (on next page) shows the demand curve for gasoline and the supply curve for gasoline. The use of gasoline creates negative externalities, including CO2, which is an important source of global warming.
Suppose that you are the manager of an accounts receivable unit in a large company. You are switching to a new system of billing and record-keeping and need to train your three supervisors and 28 employees in the new procedures. What training me..
From the scenario for Katrina's Candies, determine the appropriate type of market structure for the situation in question. Cite at least four (4) defining characteristics that have helped you reach this decision regarding the appropriateness of th..
Suppose that demand is perfectly inelastic at 40 million bags, so that consumers demand 20 million bags no matter what the price is. What price should you charge if you want the firm to earn only a fair rate of return Assume as always that TC incl..
If the current price of the product is $150, what is the quantity supplied and the quantity demanded How would you describe this situation and what would you expect to happen in this Market
What will the new price of the bond be if the interest rate falls to 3 percent?
Part of the policy response to the crisis was to extend the length of time workers could receive unemployment benefits. How would this affect reservation wages if this change was made permanent?
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