Chat with us, powered by LiveChat MicroEcons1.docx - STUDENT SOLUTION USA

PART A

1. Market Structure (65 points)

A. Graph and discuss a comparison of the short-run and long-run profits, price, quantity, MR and MC of a Monopoly and a PC firm. Which type of firm is more efficient and why? (30 points)

B. Graph the short-run and long-run equilibrium of a Monopolistically Competitive firm. Are they efficient? Why or why not? (10 points)

C. What is the market structure? Give an example and the characteristics of each type of structure. (10 points)

D. Assuming that there are only 2 cell phone companies, Apple and Samsung, what is the ((Nash) Equilibrium) or price that each company in the following matrix will charge? At that price, what are the profits for each company? Note that the first number listed in bold is the profit for Apple and the second number listed that is in italics is the profit for Samsung. (10 points)

E. Can Apple and Samsung Collude to increase their profits? Why or why not? (5 points)

Samsung

$999

$1099

$1199

Apple

$999

$13000

$22000

$16000

$19000

$20000

$16000

$1099

$12000

$18000

$15000

$15000

$18000

$13000

$1199

$9000

$14000

$13000

$ 12000

$16000

$10000

2. If the U.S. wants to maximize tax revenues, should we impose an excise tax on McDonalds or gasoline? Why? Make sure to include an elasticity graph for both firms and the equation for elasticity and your assumptions regarding the elasticity of demand for both products.(10 points)

3. International Trade (15)

A. What is the difference between an absolute and comparative advantage? Give an example from your own life. (5 points)

B. What are two ways nations prohibit trade? (Make sure to include the appropriate graphs for both the U.S. and the foreign country) Who benefits and who pays for this action? (10 points)

4. What are the 4 types of market failure? Explain each, give an example of each, and a solution for each. (10 points)

PART B

ASS 12&13

1). Explain the 4 ways the Federal Reserve would increase the money Supply and explain and graph how this would impact interest rates, consumption, investment, AD, GDP, Prices and Unemployment. (Make sure to include both the money and the goods graph).

2). Calculate and graph (both the money and goods graph) what would happen if the Fed. Increased ER = 100 billion and the RRR = .10.

3)

· Watch the 2 Youtube videos about Keynes vs. Hayek and

· Write a 1–2-page analysis regarding the difference between the Keynesian Model and the Classical Model, including the assumptions, shape of the AS curve and policy recommendations.

PART C

1. What is the ARCH effect and how do we test it?

2.

Top of Form

For ARCH (1) model, e.g. ARCH with order 1, what's its unconditional volatility ? 

A (20 points) The file assignment_5.txt contains daily stock returns for Abbott Laboratories (abt) and S&P 500 index (sprtn). Please compute the time-varying betas for the abt stock.

date abt sprtn

20010102 -0.006452 -0.028032

20010103 -0.022078 0.050099

20010104 -0.091633 -0.010552

20010105 0.005848 -0.026242

20010108 -0.010174 -0.001918

20010109 0.022026 0.003812

20010110 -0.017184 0.009586

20010111 -0.011747 0.010318

20010112 0.035661 -0.006406

20010116 0.032999 0.006319

20010117 -0.016667 0.002126

20010118 0.018362 0.013915

20010119 -0.022191 -0.004028

20010122 0.002837 0.000268

20010123 -0.004243 0.013032

20010124 -0.017045 0.002867

20010125 0.054913 -0.004977

20010126 0.012329 -0.001886

20010129 -0.015968 0.006805

20010130 -0.008801 0.007008

20010131 -0.004218 -0.005620

20010201 0.025412 0.005461

20010202 -0.010652 -0.017474

20010205 0.018018 0.003587

20010206 0.018131 -0.001514

20010207 0.008268 -0.008408

20010208 0.015349 -0.006235

20010209 0.002278 -0.013336

20010212 0.022727 0.011827

20010213 -0.037172 -0.008652

20010214 -0.005245 -0.002184

20010215 0.011390 0.008124

20010216 0.011470 -0.018905

20010220 0.003505 -0.017357

20010221 0.027327 -0.018508

20010222 -0.001000 -0.001952

20010223 -0.021021 -0.005555

20010226 0.006135 0.017490

20010227 -0.011789 -0.007660

20010228 0.007610 -0.014309

20010301 0.017146 0.001040

20010302 -0.003010 -0.005680

20010305 -0.014291 0.005858

20010306 -0.019400 0.009981

20010307 -0.018534 0.006452

20010308 0.029069 0.002259

20010309 -0.015258 -0.024764

20010312 -0.011935 -0.043181

20010313 0.014622 0.014829

20010314 -0.033417 -0.025842

20010315 0.000000 0.005871

20010316 -0.027658 -0.019624

20010319 -0.005556 0.017627

20010320 -0.032402 -0.024077

20010321 0.016166 -0.017924

20010322 -0.011818 -0.004064

20010323 0.000000 0.019909

20010326 0.017709 0.011282

20010327 0.011977 0.025575

20010328 0.016749 -0.024430

20010329 0.021305 -0.004630

20010330 0.014839 0.010784

20010402 -0.016741 -0.012462

20010403 -0.031897 -0.034393

20010404 0.011354 -0.002901

20010405 0.036760 0.043680

20010406 0.003822 -0.019984

20010409 0.024112 0.008117

20010410 0.000000 0.027066

20010411 -0.025306 -0.002131

20010412 -0.028091 0.015104

20010416 0.019050 -0.003228

20010417 0.012033 0.010282

20010418 -0.004459 0.038890

20010419 -0.024952 0.012551

20010420 -0.013780 -0.008551

20010423 -0.012198 -0.014980

20010424 -0.002470 -0.012161

20010425 0.024308 0.015941

20010426 -0.014283 0.004696

20010427 0.024967 0.015010

20010430 0.008699 -0.002865

20010501 -0.012505 0.013590

20010502 -0.009389 0.000782

20010503 0.009698 -0.014873

20010504 0.017027 0.014440

20010507 0.008800 -0.002447

20010508 0.014894 -0.001828

20010509 0.013836 -0.004488

20010510 -0.005376 -0.000287

20010511 0.024116 -0.007577

20010514 0.011977 0.002609

20010515 0.033099 0.000416

20010516 0.044660 0.028453

20010517 -0.001859 0.002724

20010518 -0.012663 0.002693

20010521 0.004527 0.016154

20010522 -0.005820 -0.002628

20010523 -0.000944 -0.015526

20010524 -0.018148 0.003196

20010525 -0.010397 -0.011816

20010529 -0.000973 -0.007794

20010530 0.002532 -0.015655

20010531 0.009713 0.006202

20010601 -0.006926 0.003862

20010604 0.004262 0.005108

20010605 0.019483 0.012990

20010606 -0.021760 -0.010549

20010607 -0.000967 0.005457

20010608 -0.002517 -0.009397

20010611 -0.021933 -0.008356

20010612 0.006549 0.001164

20010613 0.001183 -0.011347

20010614 -0.005514 -0.017502

20010615 0.001188 -0.004517

20010618 0.010680 -0.004883

20010619 0.003523 0.003434

20010620 0.018916 0.008709

20010621 0.014354 0.011364

20010622 -0.018491 -0.009450

20010625 -0.003076 -0.005509

20010626 -0.007520 -0.001510

20010627 -0.028560 -0.004676

20010628 0.012200 0.012493

20010629 -0.051571 -0.001452

20010702 0.028542 0.010037

20010703 -0.002025 -0.001827

20010705 -0.006698 -0.012321

20010706 -0.033306 -0.023498

20010709 0.012471 0.006879

20010710 0.010438 -0.014398

20010711 0.041116 -0.001134

20010712 -0.023515 0.023691

20010713 0.012245 0.006241

20010716 0.003024 -0.010883

20010717 0.008040 0.009971

20010718 0.027916 -0.005542

20010719 0.000970 0.006053

20010720 0.013178 -0.003432

20010723 -0.016641 -0.016369

20010724 -0.002529 -0.016272

20010725 0.004290 0.016080

20010726 0.006796 0.010449

20010727 -0.005979 0.002402

20010730 0.014552 -0.001078

20010731 0.024861 0.005571

20010801 -0.009144 0.003880

20010802 -0.020716 0.003964

20010803 0.005000 -0.005243

20010806 -0.010524 -0.011422

20010807 0.017018 0.003265

20010808 -0.013691 -0.017328

20010809 -0.005784 -0.000084

20010810 0.013768 0.005687

20010813 0.005165 0.000949

20010814 -0.004948 -0.003828

20010815 0.016447 -0.007339

20010816 -0.003387 0.003090

20010817 -0.012837 -0.016663

20010820 0.013387 0.008124

20010821 -0.004718 -0.012079

20010822 0.003982 0.006956

20010823 -0.012465 -0.002763

20010824 0.004016 0.019654

20010827 -0.008381 -0.004827

20010828 -0.012678 -0.015010

20010829 -0.007782 -0.011115

20010830 -0.013333 -0.017038

20010831 -0.012321 0.004030

20010904 0.018109 -0.000565

20010905 0.020356 -0.001059

20010906 -0.032346 -0.022390

20010907 -0.021217 -0.018637

20010910 0.012883 0.006226

20010917 0.020190 -0.049216

20010918 -0.002375 -0.005805

20010919 -0.016068 -0.016112

20010920 -0.022379 -0.031060

20010921 -0.029697 -0.019034

20010924 0.004251 0.038983

20010925 0.025397 0.008790

20010926 0.029928 -0.005167

20010927 0.021844 0.011489

20010928 0.016866 0.021922

20011001 0.018129 -0.002296

20011002 0.011555 0.012306

20011003 -0.036517 0.019927

20011004 0.004082 -0.002471

20011005 0.006194 0.001636

20011008 -0.004040 -0.008344

20011009 -0.014294 -0.005356

20011010 0.031746 0.022938

20011011 -0.026971 0.015208

20011012 0.017444 -0.005267

20011015 0.020998 -0.001530

20011016 0.009057 0.006936

20011017 -0.004862 -0.018633

20011018 -0.012401 -0.007873

20011019 0.009323 0.004557

20011022 0.028841 0.015296

20011023 -0.013192 -0.004698

20011024 0.007055 0.000387

20011025 0.005715 0.013721

20011026 -0.004583 0.004109

20011029 -0.004972 -0.023818

20011030 -0.004627 -0.017166

20011031 -0.014875 -0.000009

20011101 0.017743 0.022948

20011102 0.009829 0.002860

20011105 -0.011938 0.014386

20011106 0.008364 0.014526

20011107 -0.009770 -0.002735

20011108 -0.003537 0.002456

20011109 -0.006165 0.001582

20011112 0.007707 -0.001767

20011113 -0.009140 0.018563

20011114 -0.017696 0.001861

20011115 0.013798 0.000903

20011116 -0.016446 -0.003143

20011119 0.001922 0.010899

20011120 0.015538 -0.007298

20011121 0.015300 -0.004927

20011123 0.003721 0.011706

20011126 0.001854 0.006155

20011127 -0.004995 -0.006843

20011128 0.005764 -0.018251

20011129 0.008504 0.010350

20011130 0.008249 -0.000658

20011203 0.008364 -0.008381

20011204 -0.006671 0.013187

20011205 0.001271 0.022318

20011206 -0.004351 -0.002777

20011207 0.004006 -0.007531

20011210 0.006529 -0.015868

20011211 -0.024505 -0.002781

20011212 -0.020318 0.000273

20011213 0.002828 -0.015558

20011214 0.022749 0.003314

20011217 -0.007353 0.010035

20011218 -0.002778 0.007546

20011219 0.018013 0.005810

20011220 0.014228 -0.008377

20011221 0.017806 0.004351

20011224 -0.002297 -0.000210

20011226 0.005491 0.004124

20011227 -0.004756 0.006752

20011228 -0.000354 0.003362

20011231 -0.012925 -0.011145

20020102 0.001614 0.005740

20020103 0.000895 0.009180

20020104 -0.001789 0.006213

20020107 -0.006990 -0.006499

20020108 -0.006498 -0.003588

20020109 -0.005451 -0.004799

20020110 0.009134 0.001221

20020111 0.015387 -0.009468

20020114 0.000179 -0.006276

20020115 -0.002147 0.006834

20020116 0.013089 -0.016245

20020117 0.015929 0.010030

20020118 0.000174 -0.009922

20020122 0.001219 -0.007334

20020123 -0.001566 0.007925

20020124 -0.000871 0.003519

20020125 -0.001744 0.000998

20020128 -0.006813 -0.000194

20020129 -0.011082 -0.028613

20020130 0.004625 0.011748

20020131 0.021601 0.014934

20020201 -0.004506 -0.007078

20020204 -0.014450 -0.024737

20020205 0.006889 -0.004039

20020206 -0.018947 -0.005972

20020207 -0.006080 -0.003083

20020208 -0.005218 0.014859

20020211 0.007054 0.014340

20020212 0.008082 -0.003993

20020213 -0.002851 0.009941

20020214 0.005360 -0.001815

20020215 0.019015 -0.011017

20020219 -0.013080 -0.018874

20020220 0.017494 0.013514

20020221 -0.007468 -0.015510

20020222 0.008049 0.008224

20020225 -0.014581 0.017975

20020226 -0.004932 -0.000045

20020227 -0.001770 0.000460

20020228 0.002837 -0.002847

20020301 0.016623 0.022634

20020304 -0.002087 0.019491

20020305 -0.040962 -0.006673

20020306 0.018175 0.014510

20020307 -0.029811 -0.004498

20020308 -0.004784 0.005849

20020311 0.010723 0.003393

20020312 0.009512 -0.002294

20020313 0.005617 -0.009858

20020314 -0.011892 -0.000910

20020315 -0.015135 0.011379

20020318 -0.009258 -0.000523

20020319 -0.002429 0.004067

20020320 -0.029599 -0.015757

20020321 0.010811 0.001511

20020322 0.025592 -0.004239

20020325 -0.024022 -0.014651

20020326 0.008205 0.005849

20020327 -0.017600 0.005349

20020328 0.013292 0.002455

20020401 0.012167 -0.000741

20020402 0.004508 -0.008530

20020403 -0.009910 -0.009993

20020404 -0.002833 0.000835

20020405 -0.016856 -0.003205

20020408 0.000771 0.002280

20020409 0.013667 -0.006656

20020410 0.036460 0.011335

20020411 -0.009619 -0.023689

20020412 -0.002415 0.006632

20020415 0.001118 -0.007615

20020416 0.010791 0.023418

20020417 0.003129 -0.002038

20020418 0.003119 -0.001421

20020419 0.001463 0.000623

20020422 -0.006575 -0.015411

20020423 0.003493 -0.006201

20020424 -0.016856 -0.007103

20020425 -0.005032 -0.001519

20020426 0.013673 -0.013889

20020429 -0.018108 -0.010099

20020430 0.015243 0.010765

20020501 0.019462 0.008859

20020502 -0.018182 -0.001749

20020503 -0.010556 -0.010262

20020506 -0.023395 -0.019340

20020507 -0.009582 -0.003021

20020508 0.013932 0.037504

20020509 -0.004771 -0.014547

20020510 -0.017258 -0.016794

20020513 -0.004488 0.018550

20020514 0.014112 0.021144

20020515 -0.093545 -0.005659

20020516 -0.024520 0.006562

20020517 0.040437 0.007612

20020520 -0.012395 -0.013293

20020521 -0.008083 -0.010990

20020522 0.020802 0.005686

20020523 0.003151 0.010184

20020524 -0.017801 -0.012087

20020528 -0.002772 -0.008553

20020529 0.007056 -0.006412

20020530 -0.007643 -0.002810

20020531 0.016260 0.002329

20020603 -0.043790 -0.024795

20020604 -0.016513 0.000010

20020605 0.008507 0.008850

20020606 -0.006659 -0.019764

20020607 0.013631 -0.001574

20020610 0.006834 0.003124

20020611 -0.161375 -0.016629

20020612 -0.033420 0.006571

20020613 -0.028903 -0.010488

20020614 0.022253 -0.002268

20020617 0.027755 0.028691

20020618 0.025947 0.000936

20020619 -0.028387 -0.016536

20020620 0.000531 -0.013432

20020621 -0.040881 -0.017043

20020624 0.030169 0.003619

20020625 0.023912 -0.016702

20020626 -0.004198 -0.002674

20020627 0.031621 0.017575

20020628 -0.038314 -0.000838

20020701 -0.009296 -0.021378

20020702 -0.013941 -0.021225

20020703 0.008700 0.006223

20020705 0.009973 0.036730

20020708 -0.012543 -0.012184

20020709 -0.042973 -0.024719

20020710 -0.042643 -0.033962

20020711 -0.059440 0.007496

20020712 0.047393 -0.006448

20020715 0.040724 -0.003755

20020716 -0.026087 -0.018389

20020717 0.029762 0.005538

20020718 -0.044220 -0.027019

20020719 -0.028122 -0.038341

20020722 -0.004356 -0.032922

20020723 -0.031250 -0.027017

20020724 0.079032 0.057315

20020725 0.124664 -0.005620

20020726 0.027379 0.016884

20020729 0.025873 0.054078

20020730 0.018916 0.004249

20020731 0.025000 0.009792

20020801 -0.036223 -0.029574

20020802 0.005262 -0.023082

20020805 -0.056580 -0.034296

20020806 0.005812 0.029919

20020807 0.047019 0.020010

20020808 0.022328 0.032722

20020809 -0.010307 0.003512

20020812 0.010166 -0.005327

20020813 -0.029946 -0.021675

20020814 0.012399 0.040047

20020815 0.007248 0.011559

20020816 -0.008685 -0.001591

20020819 0.001252 0.023633

20020820 -0.022500 -0.013979

20020821 0.034271 0.012726

20020822 0.032146 0.014052

20020823 -0.028989 -0.022686

20020826 0.016038 0.007536

20020827 -0.010199 -0.013851

20020828 -0.022571 -0.018132

20020829 0.015813 -0.000076

20020830 -0.010872 -0.001885

20020903 -0.043717 -0.041536

20020904 0.013584 0.017517

20020905 -0.025773 -0.015950

20020906 -0.007936 0.016800

20020909 0.011467 0.010113

20020910 0.005800 0.007331

20020911 0.012058 -0.000143

20020912 -0.010101 -0.024784

20020913 -0.015699 0.003270

20020916 0.018341 0.001450

20020917 0.007309 -0.019728

20020918 0.047422 -0.004648

20020919 -0.007917 -0.030065

20020920 0.042394 0.002455

20020923 -0.002392 -0.013828

20020924 0.009592 -0.017284

20020925 0.040380 0.024863

20020926 -0.043379 0.018210

20020927 -0.036993 -0.032259

20020930 0.001239 -0.014600

20021001 0.039604 0.040010

20021002 -0.008333 -0.023587

20021003 0.017767 -0.010822

20021004 -0.035386 -0.022431

20021007 -0.032771 -0.019111

20021008 -0.002023 0.016898

20021009 0.021029 -0.027287

20021010 0.006079 0.034966

20021011 0.029273 0.039059

20021014 0.043143 0.007327

20021015 0.019640 0.047336

20021016 -0.014276 -0.024113

20021017 0.016092 0.022302

20021018 -0.004525 0.005903

20021021 -0.007955 0.017334

20021022 -0.019473 -0.010626

20021023 0.008411 0.006718

20021024 -0.016450 -0.015221

20021025 0.014841 0.017167

20021028 -0.011606 -0.008266

20021029 -0.016675 -0.009076

20021030 0.005732 0.009704

20021031 -0.005699 -0.005557

20021101 -0.003344 0.017160

20021104 0.008148 0.008191

20021105 0.032802 0.007761

20021106 0.048331 0.009144

20021107 0.002195 -0.022852

20021108 0.005257 -0.008763

20021111 -0.039224 -0.020732

20021112 -0.014743 0.007715

20021113 -0.010589 -0.000476

20021114 0.022801 0.024634

20021115 0.022521 0.006149

20021118 -0.009121 -0.010409

20021119 -0.002245 -0.004021

20021120 0.017102 0.019415

20021121 -0.001991 0.021452

20021122 -0.029040 -0.003438

20021125 -0.000457 0.002504

20021126 -0.009593 -0.020978

20021127 0.005535 0.027986

20021129 0.004128 -0.002727

20021202 -0.039516 -0.001901

20021203 0.003092 -0.014745

20021204 0.001660 -0.003454

20021205 -0.017751 -0.012010

20021206 0.034699 0.006266

20021209 -0.030042 -0.022176

20021210 -0.025690 0.013957

20021211 0.011089 0.000564

20021212 -0.004387 -0.003724

20021213 -0.009058 -0.013432

20021216 0.011858 0.023519

20021217 0.001221 -0.008139

20021218 -0.005852 -0.013145

20021219 -0.009321 -0.007709

20021220 -0.041842 0.013005

20021223 -0.014729 0.001820

20021224 -0.011277 -0.005471

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