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EC441 – In the long run, output per person

Question EC441: Problem Set 5Multiple-choice questionsThe next four questions concern the Malthusian model. Suppose that the productivity of landincreases so for a given level of labor, output increases. Answer the following questions about theeffect on the economy relative to the initial (pre-change) steady state: 1. In the long run, output per person will beA) GreaterB) …

ECO 250 – Suppose you draw a sample of size 250 from

Question Suppose you draw a sample of size 250 from a population of size 1,000. By what factor should you adjust the standard error estimates? (Relative to the usual standard error estimator) and To get a margin of error one-fourth as large, you would need to increase your sample size by a what factor?

Econ 555 Assignment – Demand Elasticity and Forecasting

Question Econ 555 Homework Assignment on Demand Elasticity and Forecasting Name:___________________________________________ Part 1. Demand Elasticity (10 points) The following is a typical regression output from Excel Spreadsheet: SUMMARY OUTPUT Regression Statistics Multiple R 0.50 R Square 0.25 Adjusted R Square 0.17 Standard Error 165.83 Observations 21.00 ANOVA df SS MS F Significance F Regression 2.00 …

Economics – Assume there are three farms in a county

Question UrbanEconomicsProblem Set#5no late problemssets Question 2Assume there are three farms in a county growing corn in a perfectly competitive market.The overall global market supply of corn is given by QS=P. The demand functionequals QD=100-P. The marginal cost functions for the farms are given by MC1=48+Q,MC2=46+Q and MC3=42+Q. Assume there is no fixed cost of …