The OLS estimator for the multiple regression model in matrix form is
A) (X'X)-1X'Y
B) X(X'X)-1X' - PX
C) (X'X)-1X'U
D) (X?-1X)-1X?-1Y
Answer: A
Economics
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Explain how the input and output markets are connected
What will be an ideal response?
Economics
From the profit maximizing conditions for the Cobb-Douglas production function, we find that the optimal input demands for labor and capital may be related as L = brK/(aw). Under what conditions are the expenditures on capital and labor equal?
A) Constant returns to scale B) Increasing returns to scale C) Decreasing returns to scale D) a = b
Economics