Define Dependent and independent variables
Define Dependent and independent variables?
Expert
While influential Economists that are often interested which variable are the “cause” and which the “effect” is when two variables appear to be related.
In applying the rule Mathematicians are always consistent that the independent variable or “cause” is placed on the horizontal axis and the dependent variable or outcome (effect) is placed on the vertical axis.
Economists are traditionally as well as less tidy those have put price and cost data on the vertical axis.
Opposite interactions are downward sloping to the right and direct relationships are upward sloping to the right regardless of which variable is placed on the horizontal or vertical axis.
Distinguish between allocative efficiency and productive efficiency. Give an illustration of achieving productive, but not allocative, efficiency?
Suppose that on the basis of a nation's production curve, an economy must sacrifice 10,000 pizzas domestically to get the 1 additional industrial robot it desires but that it can get the robot from another country in exchange for 9,000 pizzas. Relate this information to the following statement: "Thr
What do you mean by spillover. Write short note on it?
Question: Read the following excerpts from the article "Fruit, veg costs surge' by Todd, Dagwell, published in the Herald on January 25th 2011 and answer questions below: Q : Gains from Exchange- Practice and When a world famous concert pianist is as well the world's fastest short order cook, he would most likely gain the most financially through devoting: (i) Full time to frying burgers (ii) Full time to piano practice and concerts. (iii) Half-time cooking and half-time p
When a world famous concert pianist is as well the world's fastest short order cook, he would most likely gain the most financially through devoting: (i) Full time to frying burgers (ii) Full time to piano practice and concerts. (iii) Half-time cooking and half-time p
Elucidate reallocation of Government resources?
Both individual sellers and buyers within perfect competition: w) can affect the market price through their own individual actions. x) can affect the market price by joining along with some of their competitors. y) have to take the market price as a specified. z
Explain the markets and prices of the Market System?
Explain producers in an industry are receiving pure or economic profits?
Use the circular flow model to confirm this assertion for an expansion of preschool programs for disadvantaged children?
18,76,764
1960891 Asked
3,689
Active Tutors
1459259
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!