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.
what are the criteria for good forecasting
Illustrates the real concept briefly?
If a perfectly competitive firm determines that its market price is below its minimum average variable cost, this will sell: w) the output where marginal revenue equivalents marginal cost. x) any positive output the entrepreneur decid
States the Wealth Definition in economics?
Illustrates the meaning of Demand?
What is the meaning of managerial economics?
Explain the assumptions of Law Diminishing Returns.
Illustrates the term Dumping?
The model of purely competitive resource markets describes how: (1) U.S. income distribution patterns are determined. (2) wages are determined in the United States. (3) resource prices would be determined in efficient markets. (4) competition leads to
Illustrates the Law of Returns to scale?
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