Now suppose that you instead observe the value of exports for all the different products (e.g., corn, soybeans, pork, dairy products, etc.) that Colombia purchases from the US from 2000 to 2019. What type of data is this? Group of answer choices Panel Random sample Time-series Cross-sectional
Q: Show the relationship between short-run marginal and average cost curves, and long-run marginal and…
A: In the short run there are two types of costs:- fixed costs and variable costs. In the short run…
Q: Price and Cost (dolars) Price and Cost (dolars) MC MC ATC 11 11 10 10 AVC ATC 7. AVC 100 150 200…
A: In perfect competition market there are large numbers of sellers and buyers firm homogeneous product…
Q: Q#13) The former Tea Party and Trump factions with the Republican Party would like…
A: Since you have asked multiple question, we will solve the first question for you. If you want any…
Q: 5. Costs in the short run versus in the long run Ike's Bikes is a major manufacturer of bicycles.…
A: Answer: Long-run average total cost: it is the smallest short-run average cost to produce a…
Q: Answer the following options (Q#11) The population on the African continent has grown enormously…
A: Hi! Thank you for the question As per the honor code, We’ll answer the first question since the…
Q: what is explicit cost with example
A: The correct answer is given in the second step .
Q: Most people demand goods and services much less than they want. True or False? Explain your answer.…
A: Answer 1. The quantity of a commodity or service that consumers are willing and able to purchase at…
Q: Assuming fixed costs are unavoidable in the short run, a perfectly competitive firm’s short run…
A: Given that fixed costs are unavoidable in the short run, it implies that a perfectly competitive…
Q: Anticipating a recession forthcoming, the central bank would conduct a(n) Select an answer and…
A: Recession is an economic situation in which people face a fall or slowdown in the general economic…
Q: Suppose that the demand for sweatshirts at the university bookstore is given by: P = 40 – 0.2Q A)…
A: Elasticity measures the responsiveness of quantity demanded to changes in price level.
Q: There are several reasons why government has played such a large role in the provision and financing…
A: The answer is - the high private return to education.
Q: Suppose that nominal GDP was $9000000.00 in 2005 in Montgomery County Maryland. In 2015, nominal GDP…
A: Given, Nominal GDP(current year) = $11500000 Nominal GDP(base year) = $9,000,000 Inflation = 2%…
Q: the outcome in a monopolistically competitive market desirable f andpoint of society? Can the…
A: A market structure described by a solitary vender, selling a special item in the market. In a…
Q: The federal government buys $20 million worth of computers from Dell. If the MPC is 0.60, what will…
A: Given MPC=0.60 Federal government buys $20 million worth of computers Therefore government…
Q: how are aggregate output and the real interest rate determined in competitive equilibrium?
A: Answer- competitive equilibrium is a situation where maintained balanced without any external…
Q: Answer the following options: (Q#7) What is the connection between education and the economic…
A: Hi! Thank you for the question As per the honor code, We’ll answer the first question since the…
Q: Assume the vitamin industry is perfectly competitive. When a new medical study shows that taking…
A: The perfectly competitive market exists where the many firms are there in the market and each firm…
Q: Consider a market with two firms (Firm 1 and Firm 2), which produce an identical good. Both firms…
A: Disclaimer: Since it is a multi-part question, I am providing you with the answer to the first three…
Q: Write PESTEL Analysis of Taiwan for restaurant business
A: PESTEL analysis can be defined here as political, economic, social factors, and analysis of legal…
Q: 4 3 4 - Sim plicity assume there is po dustin cest. no If Hhe Compony ties the two proqucts…
A: Productivity costs happen when the productivity of people is impacted by ailment, treatment,…
Q: 1. A automobile was purchased on a 60-month installment plan with a $10,000 monthly payment.…
A: (1) Monthly Installment (Annuity)= $10,000 n = 60 months interest rate = 12.03%12=1.0025%
Q: Consider the following market demand function: Q= 20-2P, where P is the market price. Suppose there…
A: Profit maximization is a process business firms undergo to ensure the best output and price levels…
Q: What is Monopolistic Competition market structure – its main features
A: A monopolistic competitive industry is an industry where there are many buyers and sellers in the…
Q: nanufacturer of hospital supplies has a uniform annual demand for 180,000 boxes of bandages. It…
A: Supply and demand represent the working of a market and the cooperation among providers and…
Q: Price per apple (S) Quantity demanded Quantity demanded (Income = $10,000) (Income = $12,000) 1 10…
A: Quantity demanded is inversely related to price, keeping other factors of demand constant. When the…
Q: A certain copier machine cost P150,000 with a trade-in value of P15,000 after making 800,000 copies.…
A: Depreciation = [[Cost - Salvage value] / Life time production] * Units produced Book value = Cost -…
Q: A firm's marginal resource cost curve is O horizontal only if the firm is a price taker in the…
A: The marginal resource cost curve is used to explain the addition cost incurred in employing one more…
Q: QUESTION NO.13 Two relatively inexpensive alternatives are available to reduce potential earthquake…
A: Given: Interest rate=8% Study period=20 years
Q: With reference to the table given above, calculate: i. Gross Domestic Product at factor cost ii.…
A: "Since you have posted a question with multiple sub-parts, we will solve the first three subparts…
Q: what is oligopoly market structure and its main features.
A: There are many types or forms of market. Some of them are: 1. Perfect competition 2. Monopoly 3.…
Q: Heavy buying of the 3-month Treasury bill, considered one of the safest investments aroun a…
A: Government bonds or debt securities with a maturity of less than a year are considered short-term…
Q: All of the following rules are effective in reducing the budget deficit except: A. spending caps B.…
A: Budget deficit refers to the excess of expenditure over receipts in a given accounting year. B.D =…
Q: Can the banks make easy profits because the money multiplies? How? Is it fair and efficient? Is the…
A:
Q: Suppose for commodity X, the price elasticity of demand is 3 and the Marginal cost is RM 200.…
A: We use the inverse elasticity rule here. Which is: (P - MC)/P = 1/elasticity So here we have (P -…
Q: In each of the following markets find the market equilibrium. Calculate consumer surplus, producer…
A: Hi! Thank you for the question As per the honor code, We’ll answer the first question (question 9…
Q: Figure 10: Changes in total transport cost - Second Scenario Finland France Germany Greece reland…
A: Change in demand is defined as the shift in aggregate demand in the economy due to different…
Q: 34. An amusement park faces a demand curve of Q = 40 – 0.4P and marginal cost of MC = 1.25Q, where Q…
A: In the monopoly Market profit maximizing output level is that level where Marginal revenue is equal…
Q: The Joint Hypothesis Problem implies that the Efficient Markets Hypothesis can easily be proved…
A: Efficient Market Hypothesis:- According to the efficient markets hypothesis (EMH), marketplaces are…
Q: 9. The law of supply states that, other things equal or constant, when the price of a good falls,…
A:
Q: Ambrose's utility function is = 4x1 ^1/2 + x2. If the price of nuts (good 1) is $1, the price of…
A: A consumer will maximise its utility at a point where marginal rate of substitution is equal to the…
Q: A hair salon is considering hiring more workers. The market wage for a hair stylist is $160 per day,…
A: The cost of providing the salon service is the wage rate per labour $160 per day . And the revenue…
Q: 6. The official inflation rate likely overstates the perceived inflation rate by consumers because…
A: The correct answer is given in the second step.
Q: Question No. 5: A newly established business has estimated the fixed cost to be equal Rs. 6.7M…
A: Here, given information is: Fixed cost: Rs 6.7M Contribution margin per unit: Rs 125 To find:…
Q: メ 4 3 3 4 po ductinn cost. ties the two proquits tejether, nhat mplicity. there is ass ume no te…
A: Production costs allude to the costs an organization brings about from assembling an item or…
Q: in the blank using the number that corresponds to the correct word or phrase in the word bank below…
A: Gross domestic product estimates the worth of labor and products delivered inside a nation's…
Q: A country has a rate of growth (g) of 0.75 %, a debt-to-income of 94% and a primary deficit of 0.9%…
A: The percentage change within the value of all products and services produced in a very country over…
Q: Consider the long-run equilibrium with monopolistic competition. Do you consider it to be efficient…
A: Concept: A monopolistic competition is a market where there are large number of buyers and sellers…
Q: An actuarially fair premium is set equal to the insurer's expected payout, assuming no admin-…
A: Due to asymmetrical information market failure can be arises as both parties do not have the same…
Q: Discuss extensively and with examples the economist perspective on economic cooperation, economic…
A: (A) Economic cooperation, Economic cooperation is a sort of international cooperation that tries to…
Q: A sub-optimal employment policy is indicated if the marginal product of a costly input is: a.…
A: The effectiveness of the employment policy is indicated by the marginal product of the input.
Step by step
Solved in 3 steps
- You are given the following dataset from a sample of the population. Superhero Number of Villains Captured Number of Losses Average Hours of Sleep Spiderham 30 9 12 Alligator Loki 50 1 23 Iron Man 20 8 6 Phil Coulson 18 2 8 Yelena Belova 25 5 2 Round all answers to 2 decimal places. IE: 3.567 = 3.57 A. What kind of dataset is this? Answer either Panel, Time series, or cross sectional B. Calculate the average number of villains captured in this sample. C. Calculate the variance of the number of villains captured in this sample. D. Calculate the correlation between the number of villains captured and average hours of sleep . If answer is negative, include negative sign. E. Calculate the sample covariance between the average number of losses and average hours of sleep . If answer is negative, include negative sign.U.S. Population The U.S. population can be modeledby the function y = 165.6x1.345, where y is in thousands and x is the number of years after 1800.a. What was the population in 1960, according tothis model?b. Is the graph of this function concave up or concave down? What does this mean?c. Use numerical or graphical methods to findwhen the model estimates the population to be93,330,000.Zeitler’s Department Stores sells its products online and through traditional brick-andmortarstores. The following parallel coordinates plot displays data from a sample of20 customers who purchased clothing from Zeitler’s either online or in-store. The datainclude variables for the customer’s age, annual income, and the distance from the customer’shome to the nearest Zeitler’s store. According to the parallel coordinates plot, howare online customers differentiated from in-store customers?
- We have a random sample of workers from a large firm. In 2017, the firm ran a training program. Some workers did the training program, others did not. The firm now wants to assess the effect of the training on earnings. We use the following model to estimate the effect of a training program on annual earnings in 2018: ln(earn2018)=β0+β1train+β2ln(earn2016)+β3educ+β4exper+u where earn2018 = individual total annual earnings in 2018 in dollars train = a dummy variable that takes the value 1 if the individual worker did the training in 2017 and 0 otherwise earn2016 = individual total annual earnings in 2016 in dollars educ = the individual's years of education exper = the individual's years of experience We find: ln(earn2018)^= 11.672 + 0.041train + 0.821ln(earn2016) + 0.037educ + 0.012exper (5.864) (0.019) (0.258) (0.013) (0.007) n=1278, R2= 0.048 Which of the following is the correct interpretation of the…We have a random sample of workers from a large firm. In 2017, the firm ran a training program. Some workers did the training program, others did not. The firm now wants to assess the effect of the training on earnings. We use the following model to estimate the effect of a training program on annual earnings in 2018: ln(earn2018)=β0+β1train+β2ln(earn2016)+β3educ+β4exper+u where earn2018 = individual total annual earnings in 2018 in dollars train = a dummy variable that takes the value 1 if the individual worker did the training in 2017 and 0 otherwise earn2016 = individual total annual earnings in 2016 in dollars educ = the individual's years of education exper = the individual's years of experience Now, I want to test whether the effect of an additional year of education increases earnings by twice as much as an additional year of experience. My null hypothesis is H0:β3=2β4. To get the standard error I need to conduct this hypothesis test, I rearrange or re-parameterise…if we got the the following regression result Yi= -2.5-10 (Xi) when the number of observation =100. then as Xi increase, Yi will and when Xi increases by 10, Yi will........ by.........*
- You have been presented with the following data and asked to fit statistical demand functions:PERIOD QUANTITY PRICE INCOME ADVErtising1 120 8 10 3 2 165 4 22 7 3 120 7 20 5 4 165 3 20 8 5 180 4 30 8 6 90 10 19 6 7 150 4 18 10.2 8 190 1.6 25 9.3 9 160 5 30 8 10 200 2 35 9.5Linear Relationshipa. Use any multiple regression packages (eg. SPSS package) to estimate a linear relationship between the dependent variable and the independent variables. b. Is the estimated…This is how I interpret the question units of slope: distance/timeDifferentiate and explain the following terms: i. Time Series Data and Cross Sectional Data
- A large policy debate revolves about the causes and consequences of child labour. Extensive child labour at early ages is often considered as harmful and there is substantial theoretical and empirical interest in determining the causes for child labour. Therefore, we would like to analyze the relationship between wealth (e.g. the number of cattle or other assets) and child labour, using household data collected in several villages in rural Africa. Suppose we have data on Y and X iv where Y, is the number of hours worked by child i in village v and X, is family wealth. a) Explain how this is related to the concept of Panel Data. b) Explain how you could estimate the relationship between wealth and child labour using pooled OLS, Random Effect (RE), Fixed Effect (FE) estimators. Write down the estimation equations and the conditions needed to guarantee consistency. Compare the FE and the OLS estimators: Is either of these two estimators based on weaker assumptions than the other? c)…U.S. Population The projected population of theUnited States for selected years from 2000 to 2060 isshown in the table below, with the population givenin millions.a. According to this table, what should the U.S. population have been in 2010?b. Create a new table with x representing the numberof years after 2000 and y representing the numberof millions.c. Use a graphing utility to graph the data from thenew table as a scatter plot.3Q2Q3: Both questions correlate with each other. Use the following to complete the graph.
