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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, respectively. (a) Determine the equilibrium price and quantity.
(b) Using the definite integral, calculate the consumer and producer surpluses at the equilibrium position.
(c) Give your answers to part (a) and (b) on an appropriate diagram.
when is an econometric model said to be simple and naive
Probelm: (a) Differentiate between homoscedasticity and heteroscedasticity. (b) Outline the reasons why the variances of disturbance term may vary. (c) Given the 3 observ
hypothetical data on consumption expenditure ($) and income ($) is given in the table x Y 80 55 100 65 85 70 110 80 120 79 115 84
Discuss the descriptive statistics of total government expenditures and per capita government expenditures. Plot their histograms and comment.
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suppose only one professor teaches economics at your university, would you say that this prof is a monopolist who can exact any price from students in the form of readings assigned
Suppose that the aggregate demand curve in a particular year is given by the algebraic expression: Y = 3000 + 1000/P, where Y is the aggregate output and P is t
1. (a) Consider a perfectly competitive industry that produces a total output of 190 units in the long run. Suppose there are n identical firms in the market. Each firm then produc
What is the ADF max test?
I am trying to apply weighted least squares but Im not getting a very good fit when I regress the residuals on the variables so I don''t think the weights will be very good
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