Describe and explain your hypotheses for the estimated

Assignment Help Microeconomics

Reference no: EM133380754

Question: Suppose that to examine the demand for TriMet bus rides (BRt) in the Portland region, we constructed the following aggregate demand regression model:

?????? = ??0 + ??1?????????? + ??2????????????+ ??3????????????????????+ ??4??????????_???????? + ??1???????????????? + ????

Where BRt represents thousands of bus rides demanded in a particular month t, Price is the fare for bus rides ($), Income is the average income level (thousands $), Population is the current population (thousands), Price_Uber is the price of an equivalent Uber ride ($) and Pandemic is a dummy variable (0 or 1) representing whether or not there was a pandemicrelated stay at home order in the state during that month.

(a) Describe and explain your hypotheses for the estimated coefficients of β1, β2, β3, β4 and τ1. Please refer to economic theories and concepts to justify each of them.

Reference no: EM133380754

Questions Cloud

What is difference between fixed costs and variable costs : What is the difference between fixed costs and variable costs? Consider you own a pizzeria. Give examples of its Variable costs. Give examples of its fixed cost

Describe genetic-molecular basis of the kniest dysplasia : You should describe the genetic and molecular basis of the kniest dysplasia disorder including the mode of inheritance indicating

Discuss the role of the advertising in the marketplace : Ghost posts for the major comment will be downgraded by 3 points. Note that you will not see your peers' posts before making your own. For more information

What does elasticity of demand measure : What does elasticity of demand measure? Be specific. What does it mean if the elasticity of demand equals -0.2?

Describe and explain your hypotheses for the estimated : Describe and explain your hypotheses for the estimated coefficients of ß1, ß2, ß3, ß4 and t1. Please refer to economic theories and concepts to justify each

Current screening criteria protect : How well do you think the current screening criteria protect people OR add additional steps to getting active? Would you make any changes?

Identify what it is about your specification that yields : Suppose you are told that it is an empirical fact that firms with high performance have managers that stand on their heads for a longer period of time

Utilitarianism is consequentialist ethical theory : Utilitarianism is a consequentialist ethical theory; it holds that the whether it is right or wrong to break a contract

Consider both efficiency in terms of surpluses : Suppose Iowa City is concerned with college students who cannot afford housing. It is considering two policies: rent control (a price ceiling setting

User Account

All Pages