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Suppose we have a data set with only two observations, y1 and y2. The general formula for the sample average is: sample average=1/2(y1+y2) Suppose y1 and y2 are sampled from the population in such a way so that they are correlated with each other. in particular, suppose that cov(y1,y2)= \(\gamma\) and does not equal zero. does this change wheter or not the sample average is unbiased. why or why not?
Illustrate what is the least-cost input-combination of labor and capital and how much output is produced with that set of resources.
A firm in perfectly competitive 'industry has this cost function: TC = 900 + q^2-If market demand is QD = 1800 - 20P, what is the long-run equilibrium price, quantity produced by the firm and the industry, and the number of firms in the industry?
Explain how does the Central Bank measure the money supply in the contary. Does the Central Bank have an interest rate policy.
Elucidate what does the US government hope to achieve through the use of its antitrust policy.
Compute the cross elasticity of demand among kingston's product and the rival product.
According to Colander, the perfect definition of economics. The three central coordination problems any economic system must solve.
If the prices of A, B, and C are $2, $3, and $1, respectively, and the consumer has $26 to spend on these three products, illustrate what combination of the three products should be purchased in order to maximize utility.
What do you think branded products usually are of higher quality than generic products and therefore justify their higher prices.
When 2-mutually exclusive projects are considered, NPV calculations and IRR calculations may, under certain circumstances, give conflicting recommendations as to which project to accept.
Assume which is more difficult to monitor workers at larger firms than at smaller firms. According to the delayed payment compensation model,
Discuss and explain the concept of the macro economy. Determine the major performance goals that we set for the economy, and how do we measure the performance?
Assume the corporate income tax were eliminated and revenue lost was made up through rising the payroll tax rate on labor earnings.
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