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You estimate the demand function for the square shreddies to be Qs=80-20Ps-6Pm+10Pd, where Pm is the price of milk, Ps is the price of the square shreddies, and Pd is the price of the diamond shreddies. what is the elasticity of demand for the square Shreddies when Pm=$5, Ps=$2 and Pd=$3.
What is the mechanism by which the central bank announcing an inflation target translates into an actual inflation rate and how would your answer to q1 change if households had rational expectations
A firm is using 20 units of labour and 30 units of capital to produce 4,000 units of output. At this combination the marginal product of labour is 50 and the marginal product of capital is 40.
What is the arc elasticity of demand for the London Times and what happened to income as a result of the decline in the price?
Most college students are under age 25. Give two explanations for this-one based on the benefits people of different ages are likely to receive from higher education and one based on the opportunity costs of a college education to students of diffe..
Illustrate what are the two main challenges of the international trading system? How have these concerns been negotiated among trading partners.
As an economist, you have been asked to address a meeting of a group of international professionals to explain the differences between microeconomics and macroeconomics and to provide real-world examples.
Write a brief description of the fiscal policy of the United States and would you describe it as "expansionary" or "contractionary"?
Several believe that wage inequality in the United States will generate shifts in labor markets such that gap between most highly skilled in the population and least skilled will start to fall in the near future.
Give a brief summary of the GDP trends over that timeframe and discuss two or three events which may have caused these trends.
Elucidate why this information does not allow you to establish limits on the terms of trade between these two countries.
Illustrate what appears to be the major constraint that the central banks used to determine the limits of the monetary injections into the economy.
Explain the difference between the population coefficient, i.e. ß(hat) and sample coefficient, i.e. ß. Also, please explain the difference between the OLS predicted Y (predicted dependent variable) and E(Y|X)
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