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- model of a firm that produces final goods using R&D and components as inputs, with cost data as follows:Assembly: Total cost of production = PAQA = 400Earnings of High-Skilled Labor = WHHA = 100Earnings of Low-Skilled Labor = WLLA = 200Earnings of Capital = RKA = 100R&D: Total cost of production = PRQR = 400Earnings of High-Skilled Labor = WHHR = 175Earnings of Low-Skilled Labor = WLLR = 125Earnings of Capital = RKR = 100A) In which factor(s) is assembly intensive? In which factor(s) is R&D intensive?B) Suppose that due to the opening of trade, the price of assembly falls by ∆PA/PA = −20%, the price of R&D remains unchanged, ∆PR/PR = 0%, and capital’s share earnings remains constant.C) What has happened to the relative wage of high-skilled/low-skilled labor? Does this match the predictions of the offshoring model?How can these topics be applied to the real-world work environment of the corporate economist? Decision making in the regulatory and legal environment Communication of economic information Development of business recommendations and report conclusionsUnlike an accountant, an economist measures costs on a(n) ________ basis. explicit replacement historical conservative
- This is an exercise depends on the statement below: During covid-19 pandemic, there is a household (s) that requested financial assistance from the government and private institutions, to support their housing expenses. What do you think? Why they needs financial assistance?Why researchers use so many theoretical model to do their research, such as regression model, empirical model etc??3-32 ** High-low method, regression analysis OBJECTIVES 4, 5 Rockhampton College has recently opened a restaurant as part of its hospitality major. For the first 10 weeks the manager did not estimate any costs but instead hoped revenues would cover costs. One of the new waiters, who happens to be taking a cost accounting class, suggests that the manager take the past known weekly costs and try to determine a cost equation by relating the cost to the number of customers served. The cost and customer data are as follows: Week Number of customers per week Weekly total costs of restaurant 751 $16800 745 16597 3 810 17 800 4 833 18 600 825 876 17900 19600 7 855 18900 8. 897 18500 925 20305 10 910 20000 The manager gives this information to the waiter, who runs a regression and gets the following equation: Weekly total restaurant costs = $2453 + ($19.04 × Number of customers per week) Required 1 Plot the relationship between number of customers per week and weekly total restaurant costs. 2…