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The Industry's Long Run Supply Curve * The Effects of Tax - Earlier we studied how firms respond to taxes on an input. - Now, we will consider how firm responds to tax o
Survey Methods: The most direct method of forecasting demand in the short run is survey method. Surveys are conducted to collect information about future purchase plans of the
Illustrate about the elasticity of substitution. The Elasticity of Substitution: The technical substitution’s marginal rate measures the slope of an isoquant. As well the el
Commodities A) It is well documented that commodity prices are very volatile when compared to other asset classes. Discuss factors that cause volatility in the commod
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
national income and what is used to measure it
If a minimum wage were imposed below the competitive equilibrium what would we expect to observe in the effected labor markets?
Suppose scientists discover that eating soybeans prevents cancer and heart disease
Andrew has preference given by: u(x,y) = min{2x, 3y} The price for good x and good y are identical and equal to 4. At his optimal consumption bundle he achieves a utility of 90. W
The plant cell when placed under hypertonic medium loses a great quantity of water and its cell membrane detaches from the cell wall. In that situation the cell is known as plasmol
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