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Reasons for development planning: To maximize the utilization of economic resources: The resources of any nation are not always enough for her use. In this wise, resources mus
yt =a+fyt-1 +ut, ut =et +?et-1, where et is independent white noise assume the process is stationary. Will OLS generally provide you with consis- tent point estimates of f? Can y
Ask qExplain why each of the following factors may influence the own price elasticity of demand for a commodity. (i) Consumer preferences, that is, whether consumers regard the com
If producers expect future prices to enhance, current supply will decline in favor of selling inventories at higher prices later. In other words, supply will reduce (a shift to th
Assume that you have a client that is a paper manufacturer and they have expressed concern that the government will pass a new regulation banning the use of chlorine based technolo
Economic policy efficiently: The reason for poverty and misery in the developing countries is not essentially the lack of potentialities or resources, human or material, but t
Evaluate the equilibrium price and quantity (a) Find the equilibrium price and quantity (b) If government in trying to control the price of the good fixes the price at c550
1 Differentiate between a firm and a market. 2 Graphically illustrate (i.e. draw) and explain the relationship between the market demand curve and the individual firm's demand c
Problem: (a) Consider the Classical Linear Regression Model (CLRM) Y i = α + βX i + ε i (i) Using the method of ordinary least squares (OLS), derive an expression for
law of diminishing marginal returns does not hold then output of the world can be produced in a flower pot. Explain?
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