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Discussion in the preceding section suggests that if we want to measure a given hnction belonging to a simultaneous-equations model, the hnction must be fairly stable over the sample period, that is, it must shift within a smaller range as compared with other relationships of the same model. In the last section we have shown that we can measure the supply function when it is fairly stable and the demand is shifting similarly we can measure the demand hnction if it is fairly stable while the supply hnction shows adequate variability. It can happen when the factor causing shift in one particular function is absent in another function. In other words, in order to identify the demand function, some factors absent from it but included in 'the supply function (or in other relations of the system) must be changing over the period of the sample.
Similarly, we can trace the supply function if it is fairly stable while demand shows enough variability. This implies that if the supply function is to be identified, some variables absent from it but affecting the demand function must be changing.
What terms are included in the monopolistic competition? Product Differentiation: 1. The meaning of monopolistic competition and product differentiation 2. Why monopolist
Evolutionary game theory provides a dynamic framework for analyzing repeated interaction. Originally modeled when "natural models" of fitness, a population might contains folks gen
A sequential game is one among one in all if just one player moves at a time and if every player is aware of each action of the players that moved before him at every purpose. Tech
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James and Dean are playing the Chicken game. They have noticed that their payout for being perceived as "tough" depends on the size of the crowd. The larger the crowd, the "cooler"
An auction during which the bidder who submitted the very best bid is awarded the item being sold and pays a worth equal to the number bid. Alternately, in a very procurement aucti
#Dominance method#
I have a problem with an exercise about Cournot game. It is very complex and it is composed by different question and it is impossible for me to write the complete text. I need som
what are the theories of financial crisis
Two individuals use a common resource (a river or a forest, for example) to produce output. The more the resource is used, the less output any given individual can produce. Denote
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