Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Microeconomics Expert

Economics


Home >> Microeconomics

The number of cell phones (CP) in the United States has been growing according to the following model CPt = CP0(1 + g)t where g is the growth rate and CP0 is the number of cell phones (in thousands) in 1995. After linearizing this model by a log transformation, we have ln CPt = ln CP0 + t ln(1 + g) and we obtain the following result as regression estimate ln CPt = 8.5 + 0.23t t = 1 for 1995

(a) What is the rate of growth of cell phones?

(b) What was the number of cell phones in use in the year 1995?

(c) Write the exponential equation and estimate the number of cell phones in use for the year 2012.

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M91545536
  • Price:- $15

Priced at Now at $15, Verified Solution

Have any Question?


Related Questions in Microeconomics

Question several times in the last century the uk decided

Question: Several times in the last century, the UK decided to set the value of the £ above its equilibrium value. In terms of the Mundell-Fleming model, this means the value of the currency was set above the point where ...

Question in the 1930s the movie industry operated under a

Question: In the 1930s the movie industry operated under a studio system, in which a performer signed with a single studio for some period and promised to appear in a certain number of movies. What might have led to the ...

Question inflation and unemploymentsuppose that the

Question: Inflation and unemployment Suppose that the government believes the economy is not producing goods and services at its optimal level. In an attempt to stimulate the economy, the government increases the quantit ...

Question adult iq scores have a bell-shaped distribution

Question: Adult IQ scores have a bell-shaped distribution with mean of 100 and a standard deviation of 15. Use the Empirical Rule to find the percentage of adults with scores between 70 and 130 If 250 adults are randomly ...

Question assume that a series of inflation rates is 1

Question: Assume that a series of inflation rates is 1 percent, 2 percent, and 4 percent, while nominal interest rates in the same three periods are 5 percent, 5 percent, and 6 percent, respectively. a. What are the ex p ...

Question - what is the role of timing in deciding to enter

Question - What is the role of timing in deciding to enter or exit a market? Firms decide to enter a market based on current and historical information, but time lags can change the economic environment. What are the ris ...

Question during the 1990s the age cohort that grew the most

Question: During the 1990s, the age cohort that grew the most rapidly was the 45-54 cohort, which has the highest saving rate. Yet during that same period, the personal saving rate as reported by the BEA declined sharply ...

Question use the internet to search for an example of an

Question: Use the Internet to search for an example of an enthymeme in the media (e.g., Internet, television, radio, newspapers, etc.). • You may find an op-ed, political piece, advertising, et cetera. • Identify the imp ...

Question 1 is gdp a good way to measure a countys wellbeing

Question: 1) Is GDP a good way to measure a county's wellbeing? In other words, if a country has a large GDP, should one conclude the residents of that country generally have a high quality of life? 2) What causes "rich" ...

Question the index of consumer expectations dropped much

Question: The index of consumer expectations dropped much more sharply before the brief and mild 1980 recession than it did before the much more severe and prolonged 1981-2 recession. The same pattern also occurred for t ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As

Follow Us

© Copyright 2013-14 mywordsolution.com All rights reserved