references satisfy strong monotonicity and strict convexity. It is also true that for Lea A-E Which of the following statements, if any, is correct? (If no statement is correct, select "None".) Select one or more: a. For Lea, bundle C is strictly preferred to bundle A. b. Lea is indifferent between bundles A and C. c. Lea's favorite bundle among the four stated is A. d. None. e. For Lea, bundle C is strictly preferred to bundle B. f. For Lea, bundle B is strictly preferred to bundle E. g. For Lea, bundle E is strictly preferred to bundle A.
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- Is the cobb-douglas function concave if a1 +a2 = 1 whenThe manager of a hockey arena is pricing tickets for an upcoming game. She knows that if she increases the ticket price she will sell fewer tickets. The situation is modelled by the relation, R = -88.9p^2 + 2667p, where R is the total revenue and p is the ticket price, both in dollars. The graph is given.With Panel Data, if we assume that the individual effects vi are not correlated with the regressors Xit (i.e. E(vi|Xit) = 0), which one of the following statements is correct: The Fixed Effects estimator is not consistent. Both the OLS and the Random Effects estimators are not consistent. The OLS estimator is not consistent, but the Random Effects estimator is consistent. The OLS and the Random Effects estimator are consistent. All of the above. None of the above
- 2. Give an example of the time inconsistency problem applied to the relationship of a married couple.It is known that the ABC oil company supplies consumers with 150 tons of products per day. The company produces only two types of products - gasoline and diesel fuel. The limiting transformation ratio of diesel fuel relative to gasoline is 0.5. a) Draw a line of the company's monthly production capacity for gasoline and diesel. b) With the advent of new technologies, production increased by 20%, and the availability of gasoline increased by 30%. Explain how the company's new product line differs from the previous one. c) If we put the gasoline production on the X-axis of the graph, what percentage of the slope capacity of the production line is different from the slope ratio of the previous production line?The model initial setup is• The number of vacancies posted in the economy during a particular month is v = 100.• There were initially u = 225 unemployed workers at the beginning of the month.• Suppose that the average wage is 0.6 relative to their productivity. Unemployed workersreceive benefits that are half the wage, i.e., b = 0.3 relative to productivity.• Suppose that the number of matches between firms and workers are given by thefollowing matching functionsM = Au^0.5v^0.5• Suppose that 45 workers were able to find a job by the end of the month.Answer the following questions.a) What is the monthly job finding rate?b) What is the probability that an average vacancy is filled in a month?c) What is the job creation cost, k?d) What is the value of A?e) Explain how introducing a searching cost to this model would affect the queue length,the number of vacancy and unemployment rate, and wage.
- Consider the binary variable version of the fixed effects model with an additional regressor, D1; that is, let Yit = β0 + β1Xit + γ1D1i + γ2D2i +...+ γnDni + ui.a) Suppose that n = 3. Show that the binary regressors and the “constant” regressor areperfectly multicollinear; that is, express one of the variables D1i , D2i, D3i, and X0it as aperfect linear function of the others, where X0it = 1 for all i,t.b) Show the result in (a) for general n.c) What will happen if you try to estimate the coefficients of the regression by OLS?A) State whether the following statement(s) are true/false with justification i) If the model is linear in parameters, but there is non-linear relation between dependent and independent variables, OLS cannot be used. ii) OLS can be applied to estimate a multiple linear regression model, and each slope coefficient shows the full effect of an individual variable on the dependent variable iii) Both slope and intercept will change if dependent and independent variables are divided by factor k (=1000). B) In a left-tailed test where you reject Ho only in the lower tail, what is the p-value if Z = (-) 1.00?The Physics Club sells E = mc2 T-shirts at the local flea market. Unfortunately, the club's previous administration has been losing money for years, so you decide to do an analysis of the sales. A quadratic regression based on old sales data reveals the following demand equation for the T-shirts. q = −2p2 + 30p (9 ≤ p ≤ 15) Here, p is the price the club charges per T-shirt, and q is the number it can sell each day at the flea market. (a) Obtain a formula for the price elasticity of demand for E = mc2 T-shirts. E = (b) Compute the elasticity of demand if the price is set at $9 per shirt. (Round your answer to two decimal places.) Interpret the result. The demand for E = mc2 T-shirts is going down by about ____% per 1% increase in the price. (c) How much should the Physics Club charge for the T-shirts to obtain the maximum daily revenue? $ What will the revenue be? $
- Could you please help me only with the last part-money metric utility function? Thank you!Give typing answer with explanation and conclusion Suppose that the government must undertake an irreversible policy decision regarding the extent of air pollution regulation. The government is making this decision in a situation of uncertainty, however. In particular, there is some probability p that the benefits will remain the same as they are this year for all future years, but there is some probability 1 - p that benefits will be less in all future years. If we take into consideration the multiperiod aspects, should we err on the side of overregulation or underregulation, compared to what we would do in a single-period choice?(Yi, X1i, X2i) satisfy the assumptions of the attachment. You are interestedin β1, the causal effect of X1 on Y. Suppose that X1 and X2 are uncorrelated.You estimate β1 by regressing Y onto X1 (so that X2 is not included in theregression). Does this estimator suffer from omitted variable bias? Explain.