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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.
law of diminishing marginal returns does not hold then output of the world can be produced in a flower pot. Explain?
When Alex's income increased from $3,000 to $5,000, he increased his consumption of bagels from 4 to 8 a month and decreased his consumption of donuts from 12 to 6 a month. Calcula
what is pure competition markets?
Marketing Economies: These are derived from the bulk purchasing of inputs and bulk distribution of outputs. A large firm is able to buy its raw materials in larger quantities
What is return on investment? Return on investment is the profit earned by investing in some business or some project, for instance investment in stock exchange. Profit earned
short run equilibrium of the industry
How do you draw the demand curve Q = 100 - 50P and indicate which portion of the curve is elastic, which is enelastic, and which is unit elastic?
having utility function U(x,y)= x1/2=y1/2, determine the hicksian demand function, expenditure function and indirect utility function.
d
"A firm in monopolistic competition maximizes its profit by producing where its price is equal to its marginal cost." Is this statement correct or incorrect? Explain.
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