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Problem:
(a) Consider the Classical Linear Regression Model (CLRM)
Yi = α + βXi + εi (i) Using the method of ordinary least squares (OLS), derive an expression for α and β.
(ii) Prove that the OLS estimators derived in (a) above are unbiased.
(b) Illustrate clearly the concept of dummy variable trap.
Indifference curves present all possible combinations of market baskets that give the similar level of satisfaction to a person. Indifference Curves 1. Indifferen
Perfect competition has the following characteristics: 1. Large number of firms - There are a large number of firms in the market. Due to this each firm produces a very small fr
illustrate and explain the changing demand gor big Mac using the indifference curves and budget line
define stagflation
hi, how much does it cost for you guys to write a 5-6 pages on a article on supply and demand? However, on the 5-6 pages it wont all be writings..i need a few graphs. i would need
Deficiency of Vitamin A Deficiency of Vitamin A has been found to impose adverse effects on roughly one third of the children below the age of five around the world. It has also be
give a detailed discussion on the term economics of scale as applied to economics, highting examples,limitation,and original of economics of scale.
The demand functions for two related commodities are expressed as follows Q 1 = (12P 2 3/4 ) / (P 1 1/2 ) Q 2 = (24P 1 2 ) / (P 2 3/5 ) Where Q 1 and Q 2 are d
1. By using the Production possibility Curve (PPC), analyze the microeconomic theories such as scarcity, choices and opportunity costs. Provide relevant graph with numerical exampl
what is supply and demand
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