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Collect data on sales from any retail store of choosing for the last 10 months or 10 years. Predict the sale for the 11th month or 11th yr using a 3-month moving average and a 4-month moving average. Calculate the MAD for the 3-month or 3yr and 4month/yr moving average. Which of them yields the best forecast? Use spreadsheet to show your calculation
Which country has a comparative advantage in producing fish? Explain why. Suppose that trade takes place between Kiribati and Tuvalu. Which good will Kiribati import from Tuvalu? Explain why.
Given that milk and cookies are complements, suppose the price of flour (an ingredient in cookies) rises. What happens in themarket for milk. In a competitive market, when price is below the equilibriumprice, there will be pressure for the price to.
How was Malthus's view different from Keynes? How was the period during which he was writing affect this comparison? Does his feeling that the landed aristocracy should be promoted also affect this comparison?"
For each of the following situations, decide whether the bundle Lakshani is thinking about consuming is optimal or not. If it is not optimal, how could Lakshani improve her overall level of utility
Use a production possibilities frontier graph to illustrate the trade-off to an economy between producing consumption goods and producing capital goods.
Efficiency can mean many things to many people. Even in economics, there are different types of efficiency. Here we are discussing productive efficiency. An economy is productively efficient whenever it is producing the maximum output with given t..
Draw the new budget line and use the indifference curve to identify the change in quantity purchased and illustrate the income and substitution effects.
What differentiates the company's products from its competitor's in terms of utility? What differentiates the company's products from its competitor's in terms of packaging, size, and availability?
FULL karma for complete and clear response. 1. Under what conditions are the Cournot and Bertrand equilibria the same 2. What happens to price and output in the Cournot, Bertrand and Stackelberg models if marginal costs increase by 10 percent
Consider the utility function \(U(x,y) = y\sqrt{x}\) a)Does the consumer believe that more is better for each good? b)Do the consumer's preferences exhibit a diminishing marginal utility of x? Is the marginal utility of y diminishing?
Two of the four market structures, pure competition and monopoly, were covered in unit two. The other two, oligopoly and monopolistic competition, are part of unit three. Make sure you don't confuse monopoly with monopolistic competition.
Suppose XYZ can sell up to 40 units of output per hour at a price of $.60 per unit but cannot even get a penny for units produced in excess of 40 units per hour. How much output should XYZ produce each hour in order to maximize profits?
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