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Let {(y i ; x i ); 1 ≤ i ≤ n} be an i.i.d sequence of random variables where yi and xi satisfy the linear relationship y i = β 0 + β 1 x i + ∈ i with Cov(x i ; ∈ i ) = 0
is a hotdog vendor''s stand a good example of diseconomics of sale?
define and explain the concept of social efficent production
The definition of a price maker is a "firm with some power to set the price because the demand curve for its output slopes downward", which in effect, means those firms with a down
what is Microeconomics?
Economic Ef ficiency The effort to making products and services in the least costly way without sacrificing excellence.
explaination of quasi rent theory
Duopolist P=20-0.1Q where Q=QA+QB CA=QA CB=0.1QB2
the prevalence of excess capacity is the direct consequence of the existence of monopolistic competition
Igora''s pizzeria want to know if it should stay open this spring. Total Revenue will be $ 12,000 per week and Total Cost will be $ 18,000 per week. The fixed cost of running the b
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