In this chapter we have assumed that the fiscal policy variables, G and T , are independent of the level of income. In the real world, however, this is not the case. Taxes typically depend on the level of income and so tend to be higher when income is higher. In this problem, we examine how this automatic response of taxes can help reduce the […]
1. Suppose that your linear regression model includes a constant term, so that in the linear regression model y = X + ” ; (1) the matrix of explanatory variables X can be partitioned as follows: X = [i X1]. The OLS estimator of can thus be partitioned accordingly into b0 = [b0 b0 1], where b0 is the OLS estimator of the constant term […]
how and why a monopoly would try to price discriminate. Serving food on weekdays to business people and retired people. (Hint: which group has more flexibility during a weekday to adjust to price change and, hence, a higher price elasticity of demand?)
Several years ago, Pfizer and Warner-Lambert agreed to a $90 billion merger, thus creating one of the world’s largest pharmaceutical companies. Pharmaceutical companies tend to spend greater percentage of sales on R&D activities than other industries. The government encourages these R&D activities by granting companies patents for drugs approved by the Federal Drug Administration. For instance, Pfizer-Warner-Lambert spent large sums of money developing its popular […]
Pinion Potato Chip Inc. must purchase new potato peeling equipment for its plant in Union City, Tennessee. The plant engineer has determined the following three setups are possibilities: Naked Peel Skinner Peel-o-Matic First Cost: $55,000 $58,000 $70,000 Annual Costs: $6,000 $5000 $5,000 Declared Salvage Value 12 % of FC $5,500 $10,000 Useful Life 6 years 6 years 6 years Actual Salvage Value $6,500 $5,500 $12,000 […]
Please read these problems carefully and provide your full detail explanation. Then save it and drop it as an attachment file in The assignment box. The Due date for this writing assignment is FEB 26 and the cut of date would be FEB 26. After this date no paper will accepted. Use Microsoft word and MLA format for this homework. If you cannot use Excel […]
Each employer faces competitive weekly wages of $2,000 for whites and $1,400 for blacks. Supposeemployers under-value the efforts/skills of blacks in the production process. In particular, every firmis associated with a discrimination coefficient, d where 0 ≤ d ≤ 1. In particular, although a firm’sactual production function is Q = 10(EW + EB), the firm manager acts as if its production function is Q= 10EW […]
In a repeated decision for which the present value of the benefits of cheating are greater than the present value of the costs of cheating, deciding to cooperate is a value-maximizing decision. deciding to cheat is a value-maximizing decision. deciding to cheat is never a value-maximizing decision. None of these options are correct.
youtu.be/ctI1R6gkVV8. He is the designer of the Australian system of government-run student loans to university students which was subsequently adopted by more than a dozen countries. He is rightly considered one of the most important figures in education worldwide.a. Summarise the interview b. Write down one idea discussed in the interview that you found new or interesting, or that you disagree with, and briefly explain […]
Sarah owns a bakery that has four ovens, one full-time exempt administrative employee, and eight part-time hourly bakers. Based on this information, respond to the following: Distinguish between the short run and the long run. What will differentiate the short run and the long run? Describe fixed inputs and variable inputs. Which inputs are fixed and which are variable in Sarah’s bakery? Why would marginal […]
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