Explain the Computation of Expected Values for Contingency Tables in Terms

question 37

Essay

Explain the computation of expected values for contingency tables in terms of probabilities. Refer to the assumptions of the null hypothesis as part of your explanation. You might give a
brief example to illustrate.

Explain the concept of excess capacity in monopolistically competitive firms.

Analyze the elasticity of demand for monopolistic competitors and understand the factors that determine it.

Describe the Herfindahl index and its calculation method.

Discuss the implications of product variety in monopolistic competition.