Explain about econometric models
Explain about econometric models.
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Econometric Models:
Econometrics holds Economics and mathematics. This is the science of economic measurement. Econometrics describes past economic activity through deriving mathematical equations which will express the most probable inter-relationship among assets of economic variable. Through combining the relevant variable the econometricians proceed for predicting the future course of one or more of these variables upon the basis of established relations.
Economic rent shows part of the payment for the utilization of: (w) landowners’ labor and capital to keep their land. (x) landowners’ buildings and equipment. (y) resources for that supplies are less than perfectly elastic. (z) any piece o
What is the difference between economics and managerial Economic?
Illustrates the major objectives of demand analysis?
The Real Kool Toys Company manufactures and sells educational toys. An empirical demand function for one of the firm's products has been estimated over the last 21 quarters using regression analysis. The estimated demand function is: QY = -8,000 - 5,000PY + 192A + 120I + 2,000PX (6,000) (1,000)
Describe the term trend projection.
The arc elasticity of Plastibristle’s demand for labor in between point c and point d is approximately: (1) 0.375. (3) 0.545. (4) 0.833. (4) 1.200 (5) 2.000. Q : Purely competitive labor market The The individual household within a purely competitive labor market as: (w) has a perfectly elastic supply of labor at the market wage. (x) has a perfectly inelastic supply of labor at the market wage. (y) faces a perfectly elastic demand for its labor
The individual household within a purely competitive labor market as: (w) has a perfectly elastic supply of labor at the market wage. (x) has a perfectly inelastic supply of labor at the market wage. (y) faces a perfectly elastic demand for its labor
Refer to figure as in above. What occurs when the firm produces more than Q4 units: w) Its profit raises. x) this makes a loss. y) Its total revenue is increasing quicker than its whole cost. z) this could make a profit or a loss depending upon what occurs
What are the advantages and disadvantages of survey techniques?
A purely competitive resource market shows that an individual firm faces a resource supply curve which is: (w) perfectly inelastic. (x) perfectly elastic. (y) downward sloping. (z) backward bending. Discover Q & A Leading Solution Library Avail More Than 1435038 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1921875 Asked 3,689 Active Tutors 1435038 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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