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The economic model forecasting involves estimating several simultaneous equations which are generally behavioural equation mathematical identities and market clearing equations.The econometric model techniques is known also as simultaneous equation methods and complete system approach to forecasting. This techniques uses mathematical and statistical tools.
Income and Substitution Effects A fall in price of a good has the two effects: Substitution & Income -Substitution Effect Consumers will tend to buy more of the good
Find the market-clearing price and quantity of burritos.
explain consumer equilibrium diagrammatically as well mathematically by using necessary and sufficient conditions
Employment The calculations of human input in the production procedure. In the United States, there are two major measures of employment, as determined by the Bureau of Labor
meaning of opportunity cost under theory of cost
Negative profit FC + VC > R(q) MR > MC Indicates higher profit at the higher output - Question: Why is profit negative when the output is zero? - Outp
The Free Enterprise: Price System The free market system is where the decision about what is produced is the outcome of millions of separate individual decisions made by cons
suppose you have a coffee shop. list of fixed input and variable input for operating the shop. ques-2 describe the condition under in which labour treated as variable cost and whic
define statistics in plural and singular sense
Suppose an economy has four sectors, Agriculture (A), Energy (E), Manufacturing (M), and Transportation (T). Sector A sells 10% of its output to E and 25% to M and retains the rest
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