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sales
1990 116
1991 105
1992 29
1993 59
1994 108
1995 94
1996 27
1997 119
1998 34
1999 34
2000 48
2001 53
2002 65
2003 111
a)develop a scatter diagram
b)develop a six-year moving average forecast
c)Find MAPE
Chez Henri is a restaurant chain that operates in forty different cities. It employed an economist to determine the factors affecting the demand for its sales.
Industry structure is often measured by computing the Four Firm Concentration Ratio. Assume you have an industry with 20 companies and the CR IS 30 percent.
Suppose the demand for a product is given by P = 50 - Q. Also, the supply is given by P = 10 + 3Q. If a $12 per unit excise tax is levied on the buyers of a good, after the tax,what is the total quantity of the good sold.
Calculate total revenue, marginal revenue, marginal cost, and average cost at each level of sales fo the store. If Swim N Style is a profit maximizer, what number of suits will it sell per hour? What will its price and profit be? How can you tell wha..
What is the probability that an individual drawn from this distribution holds public health insurance? What type of probability is this?
The demand in the cake market is Qd =500 - 10p and unrestricted supply is Qs = 100 + 10p. Suppose the government imposes a baker's license that reduces cake supply to Q¢s =10p. Calculate the numerical values of the following:a. Price that cons..
What is meant by the term, path dependency and discuss how path dependency has effected the development of two major Australian economic institutions.
Your utility if a function of income (i), given by: \(U = 10i\) as long as i is less than or equal to 300. If I is greater than 300, your utility is a constant equal to 3,000. Suppose you have a choice between having an income of 300 with c..
Discuss the signs and magnitudes of the estimated coefficients and their comparisons to predicted or theoretical signs and magnitudes. What have we learned?
A consumer of two goods faces positive prices for both goods and has positive income. Her preferences over consumption of good 1 and good 2 are represented by the following utility function: u(x1; x2) = min {2x1 + x2; x1 + 2x2}
Run OLS to estimate the inverse demand function(P = f(Q)), determine how much confidence do you have in this estimated equation? Apply algebra to then find the direct demand function
Assume you have the following model of the expenditure sector: Sp = C + I + G + NX C = 400 + (0.8)YD Io = 200 G = 300 + (0.1)(Y* - Y) YD = Y - TA + TR NXo = - 40 TA = (0.25)Y TRo = 50 What is the size of the output gap if potential ou..
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