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The economic model forecasting involves estimating several simultaneous equations which are generally behavioural equation mathematical identities and market clearing equations.The econometric model techniques is known also as simultaneous equation methods and complete system approach to forecasting. This techniques uses mathematical and statistical tools.
Consumer Surplus -Difference between maximum amounts a consumer is wishing to pay for a good and amount actually paid. The stepladder demand curve is converted into a
use a graphical illustration to describe briefly what the influence of each of the following be on the market supply of labour,(a) an increase in immigrants, (b) a reduction in wag
characteristics of microeconomics
"Micron" is a company,providing micro financing facility for various business entities.So far Micron has been in operation for seven years facilitating new business ventures and ex
Just in Time Scheduling - JIT JIT techniques are being widely adopted by operations managers in manufacturing companies in the West. JIT ideas have not only had a profound im
illustration for demand of big macs using indifference curve and budget line
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How the above would apply to non-renewable resources such as oil. This has general applicability to any competitive market. The issue here is that potential supply has a finite
P=140-4Q mc1=20+30q for plant 1 mc2=80+10q for plant 2 how many units should be produced by plant 1 and plant 2 to maximise profit for this monopoly?
This research will follow the methodology of econometrics; Chao, 2005; Castle & Shephard, 2009): 1. Specification of the model using a specific stochastic equation, together wit
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