Other Economics Answers

Describe the nature of the goods produced by a monopolistically competitive firm.

 Explain the three categories of returns to scale relating to the long-run average cost curve.

Please answer Asp within 15 to 20 min

Explain how an increase in demand for goods and services contributed to industrial growth and development

discuss the government's involvement in trade through Taxes and infrastructure

Explain how an increase in the demand for goods and services contributed to industrial developments

Discuss discuss the government's involvement in trade through taxes and infrastructure

a. ) Calculate the covariance, that is, côv (X, Y) and the correlation coefficient (r). [ 4]

 Explain wh(ii) at côv (X, Y) and r measure. What is the dissimilarity between the two? [3]

b. You have decided to investigate the influence of money supply (M2) on inflation (CPI) more systematically, and therefore set up a simple linear regression model.

(i) Specify your model and find your parameter estimates (b₁and b₂) using the Ordinary Least Square method. Write down the equation of the regression line. [7]

(ii) Calculate the standard error of your estimated slope parameter        [8]

(iii) Calculate r² and explain in detail what r² tells you about your model. [3]