%3D In order to carry out the "over-under" stability analysis for the model X' = F(X), you will need a graph of the rate of inflow and a graph of the rate of outflow from X a cat O the derivative of F(X) with respect to X O test points between the equilibrium points

%3D In order to carry out the "over-under" stability analysis for the model X' = F(X), you will need a graph of the rate of inflow and a graph of the rate of outflow from X a cat O the derivative of F(X) with respect to X O test points between the equilibrium points

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Chapter5: Business And Economic Forecasting

Section: Chapter Questions

Problem 3E: Metropolitan Hospital has estimated its average monthly bed needs as N=1,000+9X where...

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4. The estimation of the model with quarterly car sales in the U.S. from 1975 to 1990 gives: Source | df MS Number of obs = 64 F( 2, Prob > F 61) = 12.21 Model .32720224 2 .16360112 0.0000 Residual | .817286587 61 .013398141 R-squared Adj R-squared = 0.2625 Root MSE 0.2859 Total | 1.14448883 63 .018166489 .11575 lqne | cCoef. t P>|t| std. Err. [95% Conf. Interval] 1price lincome -.4604611 3.37186 6.89398 -.8280926 .1838504 -4.50 0.000 -1.195724 2.399991 . 4860261 4.94 0.000 1.428121 _cons 5.92543 .4843662 12.23 0.000 4.95688 Based on the parameter estimates, what is the predicted effect of a 10% increase in price on the number of cars sold? What would be the effect of that price increase on the value of car sales?
I. Given: = 1100 (2) P Qd Qs = 3P 100 4. Arc Elasticity where P = 250 and P = 200
HOTELLING MODEL Consider a market in which today’s crude oil price is $100/bbl, and the marginal cost of extracting another barrel of oil is $50. The interest rate is 10% per year. Assume that the market iscompetitive.a. What is the best prediction for the oil price 1, 2, 3, 4 and 5 years from now, based on the Hotelling model? Calculate the oil prices at the end of years 1, 2, 3, 4, and 5. The market suddenly learns that the marginal cost of extraction in years 2 and 3 will be only $40, after which the marginal cost is expected to fall to $20 for years 4 and 5.b. What is your prediction for future oil prices based on this new information? Calculate the oil prices at the end of years 1, 2, 3, 4, and 5. [Hint: assume that the price of year 1stays as in part a.]
n15 If 8, is an OLS estimator of a regression coefficient associated with one of the explanatory variables, such that j=1,2,.,n, asymptotic standard error of 8, will refer to the: 00 cut ul Select one: a. estimated variance of B, when the error term is normally distributed qurstion b. estimated variance of a given coefficient when the error term is not normally distributed O C. square root of the estimated variance of 8, when the error term is normally distributed. Od. square root of the estimated variance of 8; when the error term is not nomally distributed -16 If 8, is an unbiased estimator of 8, is also a consistent estimator of 8, then when the sample size tends to infinity: KI) out of Select one: O a. the distribution of 8, collapses to a single value of zero. question b. the distribution of 3; diverges away from a single value of zero. O c. the distribution of 8, ccollapses to the single point 8, d. the distribution of 8; diverges away from 8; n17 If 8,is an unbiased estimator of…
(a) Tell what each of the residual plots to the right indicates about the appropriateness of the linear model that was fit to the data. X-values (a) Choose the best answer for residuals plot (a). O A. The curved pattern in the residuals plot indicates that the linear model is not appropriate. The relationship is not linear. O B. The fanned pattern indicates that the linear model is not appropriate. The model's predicting power decreases as the values of the explanatory variable increases. O C. The scattered residuals plot indicates an appropriate linear model. (b) Choose the best answer for residuals plot (b). O A. The curved pattern in the residuals plot indicates that the linear model is not appropriate. The relationship is not linear. O B. The scattered residuals plot indicates an appropriate linear model. O C. The fanned pattern indicates that the linear model is not appropriate. The model's predicting power increases as the values of the explanatory variable increases. (c) Choose…
The following table shows the total sales, in thousands, since a new game was brought to market. Month 0 2 4 9 8 10 12 14 Sales 0 2.2 5.4 9.5 19.1 27.2 32.9 35.4 (a) Plot this data and determine the point of diminishing returns. Enter the closest value in the table. The point of diminishing returns occurs i months after the game is introduced. (b) Predict total possible sales of this game, using the point of diminishing returns from the table. Total sales≈ i
Question P = 16-9 CQ) %3D C2 -9Q2 a-) Find cournet equilibrivm Cn) b-) Find cournot eQuil.blium when n= 100
The problems with e.g."Acid rain" created by emissions of sulfur dioxide has been onemajor problem in Sweden, not least because emissions have occurred in other countries (eg England and Denmark) andthen transported here. Now assume that if one tonne of sulfur is emitted in England, it results in one (1) gram of sulfur deposition in Sweden. The corresponding deposit of one tonne of sulfur emissions in Denmark is assumed to be 3 grams. Suppose further that The socio-economic damage of one gram of sulfur deposit can be estimated at SEK 0.10.The marginal cost of reduce sulfur emissions in England is estimated at Z SEK per tonne, and in Denmark the equivalent is estimatedcost to 2Z SEK per tonne. Z indicates here the emission reduction in tonnes (eg in Denmark it would cost SEK 4 toreduce emissions by two tonnes). In other words, Z = 0 corresponds to the emission level where there is no reductionemissions occur. a) Suppose now that the European Union decides that Denmark and England…
rd/ My courses / Faculty Of Economics & Administrative Sciences / ECON309 / Finals / ECON 309 F 20 11. The following are all least squares assumptions with the exception of: O a. They are independently and identically distributed. out of b. The explanatory variable in regression model is normally distributed. uestion Oc. Large outliers are unlikely. O d. The conditional distribution of given has a mean of zero. ous page
A large company in the communication and publishing industry has quantified the relationshipbetween the price of one of its products and the demand for this product as Price = 150 − 0.01× Demand for an annual printing of this particular product. The fixed costs per year (i.e., perprinting) = RM50,000 and the variable cost per unit= RM40. a) Analyze what is the maximum profit that can be achieved if the maximum expected demand is 6,000 units per year. b) Compute what is the unit price at this point of optimal demand.
A company produces and sells luxury goods and is able to control the demand for the product by varying the selling price. The relationship between price and demand is found to be: p=10-(42/D^2)+2Dwhere p is the price per unit in million dollars and D is the demand per year. The company is seeking to maximize its profit. The fixed cost is $59 million per year and the variable cost is $25 million per unit. The production capacity is 42 units per year, and the company produces at least 1 unit per month. 1) What is the company’s range of profitable output per year?
A company produces and sells luxury goods and is able to control the demand for the product by varying the selling price. The relationship between price and demand is found to be: p=10-(42/D^2)+2Dwhere p is the price per unit in million dollars and D is the demand per year. The company is seeking to maximize its profit. The fixed cost is $59 million per year and the variable cost is $25 million per unit. The production capacity is 42 units per year, and the company produces at least 1 unit per month.a) Derive how to find the number of units that should be produced annually to maximize profit.b) What is the maximum profit per year?c) What is the annual breakeven point?d)What is the company’s range of profitable output per year?