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1. (a) Consider a perfectly competitive industry that produces a total output of 190 units in the long run. Suppose there are n identical firms in the market. Each firm then produc
Assume the price elasticity of cigarettes is 0.25. By how much would prices have to increase to get a 20% reduction on smoking?
#what is the central problems of economics
HOW TO USE CORRELATION OF THE OFF DIAGONAL ELEMENTS OF THE COVARIANCE MATRIX TO DETECT MULTICOLINEARLITY
when is an econometric model said to be simple and naive
A shok question #Minimum 100 words accepted# when did the most recent shock to the crude oil market occur
Consider an equation to explain salaries of CEOs in terms of annual firm sales, return on equity (ROE, in percent form), and return on the firm's stock (ROS, in percent form): L
Assume that the allowance Peter receives from parents is his only income. He used to spend $30 a month to buy Coke at $.60 per can. Coke is an inferior good for Peter. Further a
Consider the following equations designed to estimate a school's test scores (Test) and the school's dropout rate (Drop). Test i = B 0 + B 1 *Parent Ed i + B 2 *school quali
Students in the red/black card game had to make individual deals. How would the situation change if they could bargain collectively?
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