Suppose you have data from a local firm that has been selling computers over the last 12 months. Load this dataset into Stata with the following command: use http://www. ssc. wisc. edu/-mckelvey/ec410/pcsales. dta, clear All units are in thousands of dollars, aside from sales (which is simply the number of computers sold) and income (which is in millions of dollars).

a) The number of computers sold (sales) may depend on factors aside from computer price (price), such as the price of a similar machine sold by a competitor (comp), TV advertising expenditure (tvadexp), radio advertising expenditure (radioadexp), and income of the purchasing community (income). Run the regression: sales = 60 + 01 price + 02comp + 03income +04tvadexp + 0radioadexp +E Interpret your estimate of 05.
b) Total advertising expenditure is the total amount spent across both TV and radio advertising (totadexp=radioadexp+tvadexp). Consider the following equation: sales = m + 1 price + 712comp + 73income + 74totadexp + 75radioadexp + 5 Interpret your estimate of 75. How does it differ from your interpretation of 05? c) Now run this regression: sales = lo + 1 price + l2comp + zincome + litotadexp+n What assumption does this regression make about the effect of TV versus radio advertising on sales? d) Finally, run the regression: price = Mo + Micomp + Mzincome + Mztotadexp+v and save the residuals (calling them rprice). Then run the regression: sales = 0o + Qirprice + 5 What is the relationship between 14 and 01. Explain why this is.

Which of the following statements is not correct? 1) trade allows for specialization. 2) trade has the potential to benefit all nations. 3) trade allows nations to consume outside of their production possibilities curves. 4) absolute advantage is the driving force of specialization.

Jameson manages a well-known cell phone company. this company has been voted as having the best cell-phone service. consumers appreciate the fact that they can call from almost anywhere in the world and the service still gets through. jameson knows that the company's product far surpasses that of the competition. one thing has been bothering him, though. in order to put so many resources into ensuring the best service, jameson has cut back on employees at the firm's customer call center. recently, consumers have begun complaining about long wait times when they call in with a problem or concern. although its cell phone service is still considered one of the best, customer satisfaction with the firm's customer service has plummeted. jameson does not understand why consumers are getting so upset. he believes the exceptional cell phone service more than makes up for long waiting periods and other issues with its customer service. "after all," he says, "they can't have it all. if i invest more in customer service, that means less investment on ensuring the quality of our product offering."refer to scenario. jameson has asked you, a marketing consultant, to give him advice. he cannot understand how a cell-phone company with the best product offering in the cell-phone service industry could get such low satisfaction ratings simply because the customer service is not up to par. you suggest that jameson has a narrowly defined view of the company's product offering. you tell jameson that successful marketers should define their products as what they

What is free trade? a. trade that is not subject to taxes or fees b. trade that governments do not interfere with c. trade with a high level of government regulation d. trade between states in the u.s. b