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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.
using the marginal utility approach discuss how economic theory explains the optimum pattern of consumption for an individual consumer
given short run total cost curve :10q^2+4q=100 and short run marginal cost MC=20q+4 and market demand Q=100-p what''s the equation of the short run supply curve?
This involves the characteristics of the production human as well as non human using the product concerned. For example it may pertain to the number and characteristics of children
The following hypotheses are concerned with the general impact of FDI from Costa Rica trading partners on exports from the technology sector: H1: There is a positive signifi
illustrate a long-run equilbrium using diagrams for the gold market and for a representative gold mine
Government Production: Some production in the economy is undertaken directly by governments (or several kinds of government agencies) in order to meet public requirements (as disti
What are the keys of the profit maximisation in production technology? Profit Maximization in production technology: a. Producer Behavior b. Producer’s Optimal Choice
calculate point elasticity of demand function Q=10-2p for decrease in price from Rs3 to Rs2
Tc and TVC curves have an inverted s-shape
Unemployment: Individuals who want to be employed, and are actively seeking work, but can't find a job, are considered ‘officially' unemployed. Individuals who aren't working, but
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