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Paul's utility function is u(x, y) = xy 2 . Let unit prices be given by Px = 6 cents, Py = 2 cents, and assume that Paul's budget is the same as Peter's from the previous problem
A perfectly competitive firm hires its machines at a constant rental rate of r = 5 euros per unit and its workers at a constant wage rate of w = 4 euros per unit. It can also sell
The inverse demand and supply functions for a product are given as: where P is price, Q is quantity and the subscripts d and show demand and supply, respectiv
analyze the trend of time series using semi-average method, method of least square regression and moving average method
a) Design a simple econometric project to identify the factors that affect the demand for a good or service of your preference. Estimate the significance of these factors using mu
explain the method with an example
examples of economic relationships
The town of Dusty View, Saskatchewan has only two residents - Justin and Sarah - and has a water supply shortage in the summer. The municipal water utility charges a break even pri
ear Sir/Madam, I need somebody to implement the followintg models and test: Plot the variables studied Test for a unit root of all my variables using the ADF (p) tests for the le
In a simple economy, people consume only 2 goods, food and clothing. The market basket of goods used to compute the CPI has 50 units of food and 10 units of clothing.
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