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11.1 Can you suggest a method for using the reduced-form (11.4) and (11.5) to obtain an estimate of the slope of the supply function Q – B.P + e,? In particular, suppose that the estimated reduced-form equations are P=18X and Q= 5X. What is an estimated value of B,? (Hint: look at the expressions for #1 and m.)

11.1 Can you suggest a method for using the reduced-form (11.4) and (11.5) to obtain an estimate of the slope of the supply function Q – B.P + e,? In particular, suppose that the estimated reduced-form equations are P=18X and Q= 5X. What is an estimated value of B,? (Hint: look at the expressions for #1 and m.)

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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11.8.1 PROBLEMS 11.1 Can you suggest a method for using the reduced-form (11.4) and (11L5) to obtain an estimate of the slope of the supply function Q – B,P + e,? In particular, suppose that the estimated reduced-form equations are P= 18X and Q- 5X. What is an estimated value of B,? (Hint: look at the expressions for #1 and T2.)
Transcribed Image Text:11.8.1 PROBLEMS 11.1 Can you suggest a method for using the reduced-form (11.4) and (11L5) to obtain an estimate of the slope of the supply function Q – B,P + e,? In particular, suppose that the estimated reduced-form equations are P= 18X and Q- 5X. What is an estimated value of B,? (Hint: look at the expressions for #1 and T2.)
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