2. Answer the questions below using the cost curves for the price-taking firm shown in the following graph: SMC ATC A Price and cost (dollar) AVC 100 200 300 400 500 600 700 800 900 Output a. If price is $7 per unit of output, draw the marginal revenue curve. The manager should produce units to maximize profit. b. Because average total cost is for this output, total cost is $ c. The firm makes a profit of $ d. At units, profit margin (or average profit) is maximized. Why is this output level different from the answer to part a? e. Let price fall to $3, and draw the new marginal revenue curve. The manager should units to maximize profit. now produce f. Total revenue is now $ and total cost is $ The firm makes a loss of g. Total variable cost is , leaving $ to apply to fixed cost. k. If price falls below! the firm will produce zero output. Explain why. -0 n 4 m 2

I am trying to answer number 5 with the table provided. I was provided in my lesson with the equation MU1/P1=MU2/P2 but I am having trouble trying to figure out what Numbers to plug into the equation from the table.

4. In the context of simultaneous equations modelling, which of the following statements is TRUE concerning an exogenous variable? (a) The values of exogenous variables are determined within the system (b) The exogenous variables are assumed to be fixed in repeated samples (c) Reduced form equations will not contain any exogenous variables on the RHS (d) Reduced form equations will contain only exogenous variables on the LHS.

Is the underground economy being calculated? If so, is there a certain methodology that is being used?

Question 2 (a)

How does the National Bureau of Economic Research (NBER), set the recession, peak and trough dates in the U.S. and what data is used as input?

1. A Travel-Cost Method Now it is time for your first consulting job as an environmental economist. The Forest Service would like to know whether they should preserve some national forest land, previously slated to be logged, for hiking. You are helping do a travel-cost analysis to estimate the annual benefits of hiking in this area. Survey data has been gathered from 500 hikers who visited the forest last year. This forest did not charge an entrance fee. Using a statistical technique called regression analysis, you have controlled for differences in income, employment status, age, and other important factors that might affect the number of hiking trips taken. Taking these factors into account, you have developed the following relationship: Zone 1 2 3 Population in zone 1,000 3.000 2,000 Cost Per Hiking Trip Per Person 20 40 80 Hiking Trips Taken Per Zonal Person Per Year 8 6 2 where cost includes gas, tolls, fares, hotels, entry fees, and the value of time spent traveling. a. Graph a…

"Time fixed effects control for unobserved variables that are the same acrossentities but vary over time". Is this statement true?

Use appropriate model(s) to analyze the impact of COVID-19 pandemic on a country's economy in the short-run and long-run. Graphical analyses is also required