Economics

Consider a dataset with three observations (Y1, Y2, Y3) and (X1, X2, X3) where t

Consider a dataset with three observations (Y1, Y2, Y3) and (X1, X2, X3) where the Y's are binary outcomes. Write the likelihood function of logit model where Z = beta0 + beta 1X …

Consider a demand function P = 10 – 2Qd + Y, and the supply function P = 3 + Qs

Consider a demand function P = 10 – 2Qd + Y, and the supply function P = 3 + Qs - w, where P is the market price, Qd is the quantity demanded, Qs is the quantity supplied, Y is th…

Consider a demand function P = 100=2x The total cost function C = x and MC = 1 S

Consider a demand function P = 100=2x The total cost function C = x and MC = 1 Show (a) the provite maximizing quantity x can never exceed 25 (solve for x) (B) The revenue maximiz…

Consider a dictator game where player 1 divides $10 between himself and player 2

Consider a dictator game where player 1 divides $10 between himself and player 2 who has to accept the division. Which statement is true? If 1 is selfish he may give away some mon…

Consider a duopoly case that firm 1 and firm 2 are producing homogeneous product

Consider a duopoly case that firm 1 and firm 2 are producing homogeneous products: (a) Suppose that the two firms compete in output and set their output levels simultaneously. Giv…

Consider a duopoly with homogeneous products, where two competing firms pick pri

Consider a duopoly with homogeneous products, where two competing firms pick price (Bertrand duopoly). As you learned in lecture and read in Chapter 14, both firms will choose pri…

Consider a fictional economy of Shana. The following graphs show aggregate suppl

Consider a fictional economy of Shana. The following graphs show aggregate supply and aggregate demand curves for two years—1990 and 2004—in which the economy of Shana experienced…

Consider a fictional economy that Is operating at its long-run equilibrium. The

Consider a fictional economy that Is operating at its long-run equilibrium. The following graph shows the aggregate demand (AD) curve and short-run aggregate supply (AS) curve for…

Consider a fictional price index, the College Student Price Index (CSPI), based

Consider a fictional price index, the College Student Price Index (CSPI), based on a typical college student's annual purchases. Suppose the following table shows information on t…

Consider a fictional price index, the College Student Price Index (CSPI), based

Consider a fictional price index, the College Student Price Index (CSPI), based on a typical college student’s annual purchases. Suppose the following table shows information on t…

Consider a fictional price index, the College Student Price Index (CSPI), based

Consider a fictional price index, the College Student Price Index (CSPI), based on a survey of annual purchases of a typical college student Suppose the following table shows info…

Consider a fictional price index, the College Student Price Index (CSPI), based

Consider a fictional price index, the College Student Price Index (CSPI), based on a survey of annual purchases of a typical college student. Suppose the following table shows inf…

Consider a fictional price index, the College Student Price Index (CSPI). based

Consider a fictional price index, the College Student Price Index (CSPI). based on a typical college student's annual purchases. Suppose the following table shows information on t…

Consider a firm deciding on building a stadium for mass entertainment. Doing so

Consider a firm deciding on building a stadium for mass entertainment. Doing so would cost one million dollars, yielding a stadium that could then seat one hundred thousand people…

Consider a firm in a perfectly competitive industry with the following cost stru

Consider a firm in a perfectly competitive industry with the following cost structure: VC (Q) = 10 Q2 + 50 Q, FC = 4000 and MC (Q) = 50 + 20 Q. If the market price is Pm = 40, in …

Consider a firm in a perfectly competitive market with the production function s

Consider a firm in a perfectly competitive market with the production function shown in the following table. Assume that all variable costs come from the number of workers employe…

Consider a firm that currently has no debt. The risk free rate is 3%, the market

Consider a firm that currently has no debt. The risk free rate is 3%, the market risk premium is 6%, and the firm carries a beta of 2. Assume no taxes or transaction costs and per…

Consider a firm that has a fixed cost of $70. Complete the following table: Outp

Consider a firm that has a fixed cost of $70. Complete the following table: Output FC VC TC MC AFC AVC ATC 1 $20 2 28 3 40 4 56 5 80 A publisher initially prices both hardback boo…

Consider a firm that has decided to move its factory from its home country to Na

Consider a firm that has decided to move its factory from its home country to Nation X (a developing nation). Nation X has a large supply of laborers willing to work for $4 an hou…

Consider a firm that produces military equipment. It employs 2,000 workers and p

Consider a firm that produces military equipment. It employs 2,000 workers and pays each of them a competitive wage of $40,000 per year; its total labor costs are therefore $80 mi…

Consider a firm that uses two factors, factor 1 and factor 2, to produce a good

Consider a firm that uses two factors, factor 1 and factor 2, to produce a good (output). The quantity of the output, say q, that the firm produces when it uses y_1 units of facto…

Consider a firm using labor and capital as its only inputs. The price of capital

Consider a firm using labor and capital as its only inputs. The price of capital is $40 where the price of labor (wage) is $60. Using 500 units of labor and 500 units of capital t…

Consider a firm using labor and capital as its only inputs. The price of capital

Consider a firm using labor and capital as its only inputs. The price of capital is $40 where the price of labor (wage) is $60. Using 500 units of labor and 500 units of capital t…

Consider a firm using labor and capital as its only inputs. The price of capital

Consider a firm using labor and capital as its only inputs. The price of capital is $40 where the price of labor (wage) is $60. Using 500 units of labor and 500 units of capital t…

Consider a firm using labor and capital as its only inputs. The price of capital

Consider a firm using labor and capital as its only inputs. The price of capital is $40 where the price of labor (wage) is $60. Using 500 units of labor and 500 units of capital t…

Consider a firm using labor and capital as its only inputs. The price of capital

Consider a firm using labor and capital as its only inputs. The price of capital is $40 where the price of labor (wage) is $60. Using 500 units of labor and 500 units of capital t…

Consider a firm using labor and capital as its only inputs. The price of capital

Consider a firm using labor and capital as its only inputs. The price of capital is $40 where the price of labor (wage) is $60. Using 500 units of labor and 500 units of capital t…

Consider a firm using labor and capital as its only inputs. The price of capital

Consider a firm using labor and capital as its only inputs. The price of capital is $40 where the price of labor (wage) is $60. Using 500 units of labor and 500 units of capital t…

Consider a firm using labor and capital as its only inputs. The price of capital

Consider a firm using labor and capital as its only inputs. The price of capital is $40 where the price of labor (wage) is $60. Using 500 units of labor and 500 units of capital t…

Consider a firm using labor and capital as its only inputs. The price of capital

Consider a firm using labor and capital as its only inputs. The price of capital is $40 where the price of labor (wage) is $60. Using 500 units of labor and 500 units of capital t…

Consider a firm using labor and capital as its only inputs. The price of capital

Consider a firm using labor and capital as its only inputs. The price of capital is $40 where the price of labor (wage) is $60. Using 500 units of labor and 500 units of capital t…

Consider a firm whose objective is to maximize its two period present-value prof

Consider a firm whose objective is to maximize its two period present-value profits pi + pi'/1 + r Suppose the firm produces output with a production function z K alpha N^1 - alph…

Consider a firm with a fixed-size production facility as described by its existi

Consider a firm with a fixed-size production facility as described by its existing cost curves. a. Explain what would happen to those cost curves if a mandatory health insurance p…

Consider a firm with market power that sells suits. The firm has two types of cu

Consider a firm with market power that sells suits. The firm has two types of customers, A and B. There are an equal number of customers of each type. Type-A customers are willing…

Consider a firm with market power that sells suits. The firm has two types of cu

Consider a firm with market power that sells suits. The firm has two types of customers, A and B. There are an equal number of customers of each type. Type-A customers are willing…

Consider a firm with market power who wants to use a two-part pricing strategy (

Consider a firm with market power who wants to use a two-part pricing strategy (T,P). There are N1 = 200 customers with demand P = 10 - Q1 and N2 = 300 with demand P = 15 - Q2 . T…

Consider a firm with market power. There are N1 = 200 customers with demand P =

Consider a firm with market power. There are N1 = 200 customers with demand P = 10 - Q1 and N2 = 300 with demand P = 15 - Q2 . The firm has zero fixed costs and constant marginal …

Consider a firm\'s per-period (e.g., hourly) production process. If it employs 1

Consider a firm's per-period (e.g., hourly) production process. If it employs 1 unit of labor, then 8 units of output will be produced; if it employs 2 units of labor, then 12 uni…

Consider a frictional price index, the College Student Price Index (CPSI), based

Consider a frictional price index, the College Student Price Index (CPSI), based on a survey of annual purchases of a typical college student. Suppose the following table shows in…

Consider a game in which there is aprize worth $30. There are three contestants,

Consider a game in which there is aprize worth $30. There are three contestants, A, B, and C. Each can buy a ticket worth $15 or $30 or not buy a ticket at all. They make these ch…

Consider a game where each player picks a number from 0 to 60. The guess that is

Consider a game where each player picks a number from 0 to 60. The guess that is closest to half of the average of the chosen numbers wins a prize. If several people are equally c…

Consider a game where two players take turns deciding whether or not to take a p

Consider a game where two players take turns deciding whether or not to take a pile of money. At the start of the game, there are two piles of money, one "large" pile with 5 dolla…

Consider a game where two players take turns deciding whether or not to take a p

Consider a game where two players take turns deciding whether or not to take a pile of money. At the start of the game, there are two piles of money, one "large" pile with 5 dolla…

Consider a game with three players, Bob, John, and Mark. Bob moves first and cho

Consider a game with three players, Bob, John, and Mark. Bob moves first and chooses either top or middle or bottom. John moves after Bob and observes what Bob has chosen. John ch…

Consider a group of students who share a bathroom and there are no janitorial se

Consider a group of students who share a bathroom and there are no janitorial services provided. Some of the students prefer a clean bathroom; others have a high tolerance for mes…

Consider a guessing game with N people, and the person closest to 20 plus one-ha

Consider a guessing game with N people, and the person closest to 20 plus one-half of the average is awarded the prize, which is split in the event of a tie. The range of guesses …

Consider a household who lives for only one period. The household is endowed wit

Consider a household who lives for only one period. The household is endowed with h units of time, which can be allocated between leisure I and time spent working. The real wage o…

Consider a hypothetical closed economy in which households spend $0.70 of each a

Consider a hypothetical closed economy in which households spend $0.70 of each additional dollar they earn and save the remaining $0.30 The marginal propensity to consume (MPC) fo…

Consider a hypothetical closed economy in which households spend $0.70 of each a

Consider a hypothetical closed economy in which households spend $0.70 of each additional dollar they earn and save the remaining $0.30. The marginal propensity to consume (MPC) f…

Consider a hypothetical economy in which households spend $0.50 of each addition

Consider a hypothetical economy in which households spend $0.50 of each additional dollar they earn and save the remaining $0.50. The following graph shows the economy's initial a…