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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.
Formulate the consumption function for Mauritius using appropriate theories and suggest values for the coefficients of the independent variables based on theories. Given it’s a tim
Dynamic model
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mang ki loch kya hai
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Monopsony: Demonstrate (with a graph) how a minimum wage can increase both the wage and employment in a monopsony market even when the government sets th
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