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Which instance of productive resources is suitable correctly? A) land and also surgeon B) capital and also oil rig C) labor and also telephone wire D) entrepreneurship and rice field

The following is the approximated regression equation for Assignment 1 i m sorry quantifies the demand for Widgets (purchased by the situation - 10 microwavable entres per case). Typical errors space in parentheses.

QD = 20,000 - 10P + 1500A + 5PX + 10 I(5,234) (2.29) (525) (1.75) (1.5)R2 = 0.85 n = 120 F = 35.25

Your supervisor has asked you come compute the elasticities for each independent variable, ( P, A, PX, and also I), in the equation. Assume the following values for the live independence variables:

Q D = quantity demandedP (in cents) per situation = Price the the product = 8,000PX (in cents) = Price of leading competitor"s product = 9,000I (in dollars) = every capita income of the traditional metropolitan statistics area (SMSA) where the supermarkets are situated = 5,000A (in dollars) = Monthly proclaiming expenditures = 64



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Business Economics, economics

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