Problem Set 3 Name: Lauren Hensley Problem Set 3 is to be completed by 11:59 p.m. (ET) on Monday of Module/Week 6. 1. Data for the market for graham crackers is shown below. Calculate the elasticity of demand between the following prices. Price of crackers Quantity Demanded (per month) $3 80 $2.5 120 $2 160 $1.5 200 $1 240 $1.00 - $1.50: -0.333 $1.50 - $2.00: -0.6 $2.00 - $2.50: -1 $2.50 - $3.00: -1.66 If the price of graham crackers is $2.50 should firms raise or lower
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course to gain an attendance certificate‚ any absence will unfortunately mean you will have to attend missed sessions on a future course. If you have already attended a CYPOP5 course and no longer require this information‚ please contact me via email or call the number below and your details will be removed from the CYPOP5 training database. Email: karen.parry@ncma.org.uk Phone: 0844 2252 880 COURSE CHARGES: The course is part funded by Birmingham City Council and the charge for attendance
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PROBLEM SET 2 Name: ___________________________________ Problem Set 2 is to be completed by 11:59 p.m. (ET) on Monday of Module/Week 4. 1. The following table presents data for wages in the market for internet security professionals. (HINT: in the labor market the roles are reversed. Those who want to hire labor are the demanders. The workers enter the work force providing labor to the market place so they are the suppliers.) Wage Quantity Demanded Quantity supplied $50‚000 20‚000 14‚000 $60
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Econ 122B Problem Set 3 Name(Print)______________________ Due in class on March 3 UCI ID____________________________ 1. In class‚ we have talked about the following simple wage equation wage female u ‚ where female is a dummy that is equal to 1 if female‚ and 0 otherwise. Given the OLS estimates ˆ and ˆ for the above model‚ what are the OLS estimates for a model with a
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Problem Set 3 1. Louise McIntyre’s monthly gross income is $2‚000. Her employer withholds $400 in federal‚ state‚ and local income taxes and $160 in Social Security taxes per month. Louise contributes $80 per month for her IRA. Her monthly credit payments for VISA‚ MasterCard‚ and Discover card are $35‚ $30‚ and $20‚ respectively. Her monthly payment on an automobile loan is $285. What is Louise’s debt payments-to-income ratio? Is Louise living within her means? Louise’s Gross Income | =
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609266 0.116585 0.191489 The average for Goodman was 29.4%‚ Landry 2.7% and 20.6% for the index. 2. Calculate the standard deviations of the returns for Goodman‚ Landry‚ and the Market Index. (Hint: Use the sample standard deviation formula given in the chapter‚ which corresponds to the STDEV function in Excel.) Standard Deviation Goodman Landry Market Index 0.314404 0.097073 0.137937352 3. Estimate Goodman’s and Landry’s betas as the slopes of regression lines with stock return on the vertical
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ASSIGNMENT 1 Busn 521: Managerial Economics This assignment is due on Friday Oct 17th‚ 2014. Problem Set 2 1. Pat and Kris are roommates. They spend most of their time studying (of course)‚ but they leave some time for their favorite activities: making pizza and brewing root beer. Pat takes 4 hours to brew a gallon of root beer and 2 hours to make a pizza. Kris takes 6 hours to brew a gallon of root beer and 4 hours to make a pizza. a. What is each roommate’s opportunity cost of making a pizza
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and this is further processed for obtaining various secondary and tertiary products. The basic rice milling processes consist of: Process Definition 1. Pre Cleaning: Removing all impurities and unfilled grains from paddy 2. De-stoning: Separating small stones from paddy 3. Parboiling (Optional): Helps in improving the nutritional quality by gelatinization of starch inside the rice grain. It improves the milling recovery percent during deshelling and polishing / whitening operation 4. Husking:
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overhead rate‚ if total overhead is allocated based on total direct costs. 2. Calculate the budgeted cost of trophies and plaques based on department overhead rates‚ where forming department overhead costs are allocated based on direct labor costs of the forming department ‚ and assembly department overhead costs are allocated based on total direct costs of the assembly department. 3. Calculate the budgeted cost of trophies and plaques if Tarquin allocated overhead
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Problem Set 2 Complete all questions listed below. Clearly label your answers 1. What impact would a change that shifts an economy’s production possibilities curve outward have on the long run aggregate supply curve? How have improvements in computer technology affected production possibilities and the long run aggregate supply curve? Explain Answer: Growth of population and the labor-force participation rate Capital accumulation Improvements in technology 2. Construct
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