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Demand is represented by the equation, P = 80 - 0.3QD and supply by the equation P = 30 + 0.2QS.(a) Determine the equilibrium price and quantity.(b) What are the economic effects of a price ceiling at $41?
(c) What are the economic effects of a price ceiling at $72?
(d) What are the economic effects of a price floor at $62?
(e) What are the economic effects of a price floor at $37?
Residual Variance
The variance of the error terms in a regression model, representing the amount of variation that cannot be explained by the model's inputs.
Alpha/Beta
Measures in finance; Alpha represents the strategy's returns above the benchmark, whereas Beta indicates the volatility relative to the market.
Sharpe Measure
A measure of the excess return (or risk premium) per unit of risk in an investment asset or a trading strategy, calculated as the difference between the asset's returns and the risk-free rate, divided by the asset's standard deviation.
Forecasting Ability
The capability to predict future trends, prices, or outcomes based on historical data, trends, and analysis.
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