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In their article, "A Model of the Distribution of Branded Personal Prod- ucts in Jamaica,''* John U. Farley and Harold J. Levitt developed the following model (the personal products considered were shaving cream, skin cream, sanitary napkins, and toothpaste): Y1i = α1 + β1 Y2i + β2 Y3i + β3 Y4i + u1iY2i = α2 + β4 Y1i + β5 Y5i + γ1 X1i + γ2 X2i + u2i Y3i = α3 + β6 Y2i + γ3 X3i + u3iY4i = α4 + β7 Y2i + γ4 X4i + u4iY5i = α5 + β8 Y2i + β9 Y3i + β10 Y4i + u5iwhere Y1 = percent of stores stocking the productY2 = sales in units per monthY3 = index of direct contact with importer and manufacturer for the productY4 = index of wholesale activity in the areaY5 = index of depth of brand stocking for the product (i.e., average number of brands of the product stocked by stores carryingthe product)X1 = target population for the productX2 = income per capita in the parish where the area isX3 = distance from the population center of gravity to KingstonX4 = distance from population center to nearest wholesale town
a. Can you identify the endogenous and exogenous variables in the pre- ceding model?
b. Can one or more equations in the model be estimated by the method of least squares? Why or why not?
Using the compounding annual interest rate from above, what is the nominal, period interest rate and corresponding effective interest rate if compounding is hourly? Assume 30 days per month,What is the annual compounding interest charged?
Draw a supply/demand diagram of the market for "loanable funds" in the U.S. Use the "interest rate" as the "price" of loanable funds on your diagram.
Explain the effects of each of the following managerial decisions or economic influences on the profits of McDonalds, the fast food chain, referencing either basic demand and supply analysis or the Porter five forces framework (or both) in each case...
suppose there are two types of people who need health insurance high-risk and low-risk consumers. high-risk consumers
Suppose Suzuki increases the price of a particular motorcycle model by 12 percent and as a result the quantity demanded for that model decreases by 4 percent. Calculate the price elasticity of demand for that motorcycle model.
Find the following if the market is controlled by two firms who make their production decision simultaneously (Cournot):
the san diego llc is considering a three-year project project a involving an initial investment of 80 million and the
In developing nations, young women have lower enrollment rates in secondary school than do young men. Describe several ways in which greater educational opportunities for young women could lead to faster economic growth in these countries.
What is the ultimate goal of change management - What did they do well and what could they have done better?
the current inflation rate in year 0 in an economy is 18 and the current unemployment rate is 6. the natural rate of
particularly on the retail end where drug dealers sell the drug to consumers in the U.S. What would you predict would happen to the economic profits of the drug dealer? Suppose the family in South America form a cartel What is the result of the ca..
Prove that utility approach and indifference curve yield the same consumer equilibrium
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