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Consider a family saving function for the population of all families in the United States:
sav = β0 + β1inc + β2hhsize + β3educ + β4age + u
where hhsize is household size, educ is years of education of the household head, and age is the the age of the household head. Suppose our sample includes only married couples without children. Can we estimate all of the parameters in the saving equation? Which ones can we estimate?
llustrate and explain the changing demand gor big Mac using the indifference curves and budget line
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Plot the demand schedule and draw the demand curve for the data given for Marijuana in the case above?
nm utility index
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what is diversification
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Tc and TVC curves have an inverted s-shape
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