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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.
explain the various marginal uses and limitations of break even poin?
I purchase a used stove for $155 when I was willing to pay $185. If a new stove costs $375,what is my consumer surplus
1)The productive capability of an economy is such that to produce 5 units of military good it takes 2 workers to be employed while 10 units of consumer goods require 3 workers. Res
how to control principal agent
The recent flooding in the upper Midwest destroyed a important proportion of the corn crop. Though, it has been discovered that corn oil is far better in keeping cholesterol withi
Use of Income elasticity of demand: Income elasticity of demand on the other hand, has the following uses (i) Income elasticity of demand shows how the pattern of consumer de
Define the returns to scale in production technology. Returns to scale in production technology: Assume that we are using some vector of inputs x to generate some output y a
Industrial Policy: Government policies which are aimed at fostering the domestic development of particular desirable or productive industries, in order to enhance productivity, cre
explain two theories of economic rent
Income and Substitution Effects A fall in price of a good has the two effects: Substitution & Income -Substitution Effect Consumers will tend to buy more of the good
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