1 Use the data in WAGE1.RAW for this exercise. (i) Estimate the equation
wage 5 b0 1 b1educ 1 b2exper 1 b3tenure 1 u.
Save the residuals and plot a histogram.
(ii) Repeat part (i), but with log(wage) as the dependent variable.
(iii) Would you say that Assumption MLR.6 is closer to being satisfied for the levellevel
model or the log-level model?

You are the manager of a firm that produces output in two plants. the demand for your firm's product is p = 20 − q, where q = q1 + q2. the marginal costs associated with producing in the two plants are mc1 = 2 and mc2 = 2q2. how much output should be produced in plant 1 in order to maximize profits?

Hours to produce one unit worker hours to produce yarn country a 8 hours country b 4 hours worker hours to produce fabric counrty a 12 hours country b 13 hours additional worker hours to produce fabric instead of yarn country a ? country b? which of the follow is true of the trade relationship between country a and country b? country a has an absolute advantage in producing yarn and fabric country b has an absolute advantage in producing yarn and fabric country b has a comparative advantage to country a in producing fabric country a has a comparative advantage to country b in producing fabric

The assumptions of the production order quantity model are met in a situation where annual demand is 3650 units, setup cost is $50, holding cost is $12 per unit per year, the daily demand rate is 10 and the daily production rate is 100. the production order quantity for this problem is approximately: