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A biased prediction model accounts for only the aleatory uncertainty and has a bias ratio of 0.95, that is, underprediction, and a COV of 0.1 in its prediction. An analyst believes that the parameters of this model are uncertain, and characterizes this uncertainty to be of the epistemic type as a multiplier with a mean value of 1.05 and a COV of 0.2. Estimate the total uncertainty in prediction by accounting for both the aleatory and epistemic uncertainties assuming normal probability distributions. Briefly discuss your results.
Use the ADI curve to describe how the economy would respond to a productivity shock that increases full-employment output. If there is no impact on the ADI curve, what will happen to output in the short run?
a) How many firms will operate in this market at a long-run equilibrium b) How would your answer change if each firm faced a price elasticity of demand of -4/3 and charged a profit maximizing price of $400 per unit
According to the Lewis model, what is the magnitude of surplus labor? Do the producers in this sector make their decisions on the basis of profit maximization
Coldwell Banker is employing 10 acres of land and 50 tons of cement to produce 1,000 parking spaces. Land costs $4,000 per acre and cement costs $12 per ton. For the input quantities employed, MP L = 50 and MP C = 4.
Wholesalers can buy roses at auction in aalsmeet, holland for $125 per container. a. Without international trade, what would be the price of a container of roses and how many containers of roses a year would be bought and sold in the United States
Would stock investors require a rate of return on Apex that is greater than, less than, or the same as the return on an average-risk stock?
Calculate the four-firm and six-firm concentration ratios for the computer industry. Calculate the HHI for the industry. Suppose that Appel Computer and Banana Computer were to merge with no change in the sales of any of the different computers. C..
Return again to the cartel in Problems 4 and 5. Now suppose that the market game repeated indefinitely. What is the discount factor (sigma) is necessary now in order to maintain the collusive agreement in an indenitely repeated setting
As the exclusive carrier on a local air route, a regional airline must determine the number of flights it will provide per week and the fare it will charge. The estimated cost per flight is $2,000. It expects to fly full flights (100 passengers)
In each case, explain what sources of competition the firm might face that would limit its market power.
Each additional music store will decrease the price of books by $2 per book and increase the average cost of selling books by $1 per book. Predict the equilibrium number of book stores.
Suppose that the interest rate is 4 percent. What is the future value of $100 four years from now How much the future value is total interest By how much would total interest be greater at a 6 percent interest rate that at a 4 percent interest rat..
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