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The least square method is based on the assumption that the past rate of change of the variable under study will continue in the future. It is a mathematical procedure for fitting a line to a set of observed data points in such a manner that the sum of the squared differences between the calculated and observed value is minimized. This techniques is used to find a trend line which best it the available data. This trend is then used to project dependant variable in the future. This method is very popular because it is simple and in expensive.
what is Scitovsky Contour ?
#suppose EEPCO is amultiplant monopolist with two plants: Gibe plant and Fincha plant. The operating costs of the two plants are: Gibe plant Tc1=10Q^2 and Fincha plant TC2=20Q^2.
when average product is decreasing, marginal product is?
Situation is where a luxury is there. There is the snob appeal possibility where the higher the price, the more desired the commodity it. Often people will drive expensive cars, e
Ask question #what is an indifference curveMinimum 100 words accepted#
Direct and Indirect Benefits Life time earnings of an educated person is an instance of direct benefit from education. Skills produced in training or extension programmes in a
"Take a monopolist with a constant average cost. The higher is the elasticity of demand at the chosen monopoly price, the higher is the monopolist's profit-to-revenue ratio." Expla
what is traditional economy 2 features of traditional economy
shows teh steps in unitary mehod
prefrence towards risk the demand for risky assets,
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