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Consider a model where we attempt to evaluate the effect of certain variables on the price of sex services. Suppose that the estimated coefficient on the "location variable" Hotel is statistically significant and equals 55.25. What does this mean? choose.
Hotel transactions add $55.25 to the exchange.
Hotel transactions reduce the price by $55.25
Hotel transactions increase price by 55.25%
Hotel transactions decrease the price by 55.25%
2. If I increase my consumption of a good and this has no impact on your ability to consume the same? good, then this good is
A. both nonrival and nonexclusive.
B. nonrival.
C. nonexclusive.
D. a free good.
Describe the macro-economic conditions that have led to the current oil price. You will be graded on your understanding of the macro-economic variables, their specific quantifiable variances, and the motivations of the actors that led to these condit..
Although inflation has been steady at a 2.5% average rate, economists now see trouble on the horizon due to the increases in crude oil prices over the next eight years. The leading economists in the oil industry expect oil prices to inflate; at first..
How large is the current U.S. budget deficit and how has it changed over the last few years? What is the total amount of U.S. debt and how has this changed in the last few years? Who holds this debt? What additional/different spending cuts would you ..
Also the economy has G = $1100, I = $404, and XN = $15. Unemployment in the economy is currently 5.2% and inflation is 0.1%
Your firm makes smart phone cases. The firm is a monopoly that faces the following demand function: P = 360 – 2Q. What are the total revenue and the marginal revenue functions for your firm?
"Roundabout production" leads to:
HomeGrown is a small restaurant that specializes in serving local fruits, vegetables and meats. The company has chosen to enter into a long-term relationship with Family Farms, a local farming operation. The two parties have decided to enter into a l..
Elucidate how does N the number of firms in the market, affect each firms Demand curve. Explain why.
If the marginal cost of the separate products is high, a seller should consider _______ bundling instead of ________ bundling.
The Babylonians studied problems which lead to simultaneous linear equations and some of these are preserved in clay tablets which survive. For example a tablet dating from around 300 BC contains the following problem:
Increase in demand and increase in supply will lead to?:
Using supply and demand analysis, describe the effect of each of the following events on the market for coffee: Your description should include which curve shifts, supply or demand, which way the curve shifts, left or right, if the equilibrium price ..
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