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For a child i living in a particular a school district, let voucher be a dummy variable equal to one if a child is selected to participate in a school voucher program, and let score be that child's score on a subsequent standardized exam. Suppose that the participation variable, voucher, is completely randomized in the sense that it is independent of both observed and unobserved factors that can affect the test score.
Explain what occurs when a new technology makes another one obsolete in terms of economic profit.
The law of demand states that other things equal
Estimated regression equation for which quantifies the demand for Widget
Explain each of the following using supply and demand diagrams, With the use of a graph, explain how these two programs affect cigarette consumption and the price of cigarettes.
What combination of T and M will you choose? Suppose that the price of day trip rises to $80. How will this change your decision making?
The change in consumer surplus (?CS) is not "theoretically" justifiable like the CV and EV but it continues to be the most widely used measure of consumer welfare change. Explain how this can be reconciled
China has continued to lag well behind the rest of the world in information technologies
Government encourage a decision to expand? How would it affect the reputation of the business?
Describe a skimming price and a penetration price, and advise them whether they should charge a skimming price or a penetration price, with supportive reasoning for and against each pricing alternative.
Examine the key factors affecting the demand for and the supply of a good or service
Each firm can monitor the other's price very closely and can respond instantly
What is the market solution (market price and quantity) and What is the total surplus of the society under the market solution
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