Question 1
1.A. Discuss the role of traditional factor inputs in the production function of a firm.
1.B. Discuss the role of technology in the production function of a firm.
Question 2
1.A. Discuss the impact of competition in the health care sector
Question 3
1.A. Discuss the impact of oligopoly in the health care sector
Question 4
4. Regression models are important to understand business phenomena. Discuss.
Question 5
You are an advisor for the baking system and have collected the following information.
Y = total costs per employee (in thousands of dollars per year). X1 = proportion of total loans which go to businesses (measured as a percentage so that a value of, say, 20 means 20% of loans are made to businesses). X2 = proportion of total deposits which come from households (measured as a percentage so that a value of, say, 20 means 20% of deposits come from households). D = a dummy variable which equals 1 if the bank is a big bank (has more than 100 employees), = 0 otherwise. I also constructed another variable, Z = X2×D.
As an advisor you ran a regression of Y on X1, X2, D and Z. Results from this regression are given below in the following fitted regression line:
Y = 160 – 209×X1 + 320×X2 – 2.49×D -23×Z (6×10-7)
(0.020) (0.02) (0.05) (0.07)
where the numbers in parentheses are P-values
5.A. How would you interpret (in words) the estimated coefficients in this model? What is the OLS estimate of the marginal effect of X2 on Y?
5.B. Which of the statements you have just made are statistically significant at the 5% level? Which are significant at the 1% level?
Question 1
1.A. Discuss the main drivers influencing the demand of cars.
1.B. Define the main drivers influencing the supply of cars.
Question 2
1.A. Discuss the oligopoly of taxi drivers in Greater London
Question 3
1.A. What do we mean by a perfect competitive market
Question 4
4. Discuss the concept of efficiency within the framework of a classical linear regression model. The student should support this discussion also offering examples in business economics
Question 5
Should we consider health care a necessity of a luxury good? Discuss.
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