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- 2. The market demand function for strawberries is given by the equation: Q=276 2.5Pstr +0.6 I - 0.7 Pcr, str Where is the demand for strawberries in kilograms, Pstr is the price of strawberries per kilogram (in USD), str I is the household monthly income (in USD), and P is the price of cream per kilogram (in USD). Assume that Pstr is equal to $8, I is equal to $150, and Per is equal to $5. a. Determine the price elasticity of demand for strawberries. b. Determine the income elasticity of demand for strawberries. Is strawberry a normal/inferior good? Why? d. c. Determine the cross-price elasticity of demand for strawberries with respect to the price of cream. Based on your answer from (c), can we say cream and strawberries are substitute goods/ or complement goods? Why? Assume that the prices of strawberries and cream remain constant, but income increased three fold. What is going to happen on the demand for strawberries? Please use a diagram to provide your explanation. e."The effect of measurement error in Y is different frommeasurement error in X". Explain How?How is L = 5.5? Please explain extensively
- In an economics text book, given TSS= 437 and RSS = 291, calculate the ESS and the R-squaredWhat does the term “variance analysis mean when applied of financial performance of health care organizations?The rate of change of revenue (in dollars per calculator) from the sale of x calculators is R'(x) = (x + 3) In (x + 3). Find the total revenue from the sale of the first 17 (x+ 3)² calculators. (Hint: In this exercise, it simplifies matters to write an antiderivative of x + 3 as 2 + 3x.) 2 rather than The total revenue is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to two decimal places as needed.)
- The demand for a commodity generally decreases as the price is raised. Suppose that the demand for oil (per capita per year) is D(p)=1000//p barreis, where p is the price per barrel in dollars. Find the demand when p=55. Estimate the decrease in demand if p rises to 56 and the increase in demand if p is decreased to 54. The demand D(55)= The decrease in demand =? barrels. The increase in demand =? barrels.Briefly Explain the differences between Rapid Upper Limb Assessment and Rapid Entire Body Assessment.data analysis, please show work Here is a table showing the approximate breakdown of blood types in the United States: Blood Type: A B AB O P(Blood Type in US) 0.43 ? 0.03 0.46 Here is a table showing the approximate breakdown of blood types in the United Kingdom: Blood Type: A B AB O P(Blood Type in the U.K.) 0.37 0.1 0.04 0.49 For all questions below, you may assume that the blood type of an individual in the US and the blood type of an individual in the UK are independent of each other. If you were to choose one person at random from the US and another person at random from the UK, what is the probability that they will both have blood type A? If you choose a person at random from the US and a person at random from the UK, what is the probability that neither will be of blood type O? If you choose three people at random from the US, what is the likelihood that none of them are of blood type B? If you choose two people at random, what is the probability that both…