Several Economics Questions

1) An imperfectly competitive firm has the following demand and cost functions: P=230-20Q C=50+30Q a. What is optimum output? b. What is equilibrium price of this output per unit? c. What is optimal revenue? d. What is total profit? 2) A firm in a perfectly-competitive industry where market price of output prevailing is $50 per unit has a cost function where: C=40+5Q2 a. What is marginal cost in dollars? b. What is marginal revenue in dollars? c. What is optimal output in units? d. What is maximal profit? 3) A monopolist facing a demand curve and cost function like the following: P=72-6Q C=15+6Q2 a. has what equation for marginal revenue? b. What is the equation for ma... click for more

Explain t-statistic includes a discussion of hypothesis testing.

"The output of an estimated regression equation shows the t-statistic for a given coefficient associated with an independent variable to be 1.99." Explain the implications of this statement in the context of ordinary least squares regression? Be sure your answer includes a discussion of hypothesis testing.

IP concerns choosing Q=0 or Q=300 nothing else.

The firm currently uses 70 workers to produce 300 units of putput per day. The daily wage (per worker) is $100, and the price of the firm's output is $30. The cost of other variable inputs is $500 per day. Although you don not know the firm's fixed cost, you know that it is high enough that the firm's total costs exceed it's total revenue.

statistics/econometrics problems - Attachments fixed!

problems 4.9, 4.12, 4.13, 4.20 from the attached assingments, ignore the other problems

problems are in attachments - Attachments Fixed!

please only do 5.10, 5.14, 5.16 for 5.10 please use this adjusted data for the years of 1984, 1985, and 1986 1984: 89 114.5 1985: 95 120 1986: 104 170 the other years will use the original data