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ECON 3Z03 Lecture 1: Lecture 1

Canada

Health Economics

Economics

Anastasios Papanastasiou

McMaster University

Intermediate Microeconomics II

Research Methods in Health and in Aging I

<p>In the lecture on Wednesday, it was asserted that improving the stock of human capital would improve an economy. Review the solution to question 5 of the first midterm from the summer of 2013 and explain in words why this assertion appears to be true.</p>
<p>*link of the solution for "question 5 ": https://drive.google.com/file/d/0B17ZfwbawmiFNFBOV1NVTEtyTTBKSnRwTmdKbE9LcDVIV2xF/view?usp=sharing</p>

<p>The college of business was interested in comparing the attendance for my two classes. The data follow.</p>
<table style="width: 500px;" border="1" cellspacing="1" cellpadding="1">
<tbody>
<tr>
<td style="vertical-align: baseline;">Day</td>
<td style="vertical-align: baseline;">11 am Class</td>
<td style="vertical-align: baseline;">1230 pm class</td>
</tr>
<tr>
<td style="vertical-align: baseline;">Monday</td>
<td style="vertical-align: baseline;">20</td>
<td style="vertical-align: baseline;">30</td>
</tr>
<tr>
<td style="vertical-align: baseline;">Wednesday</td>
<td style="vertical-align: baseline;">32</td>
<td style="vertical-align: baseline;">38</td>
</tr>
</tbody>
</table>
<p>What is the MST?</p>
<p>What is the MSE</p>
<p>What is the MSB</p>
<p>What is the calculated F Distribution for the blocks</p>
<p>What is the calculated F distribution for the treatments?</p>

<table style="border-collapse: collapse; width: 13.8603%; height: 136px;" border="1">
<tbody>
<tr style="height: 17px;">
<td style="width: 9.55229%; height: 17px; text-align: center;"><strong>Output</strong></td>
<td style="width: 14.203%; height: 17px; text-align: center;"><strong>Total Cost</strong></td>
</tr>
<tr style="height: 17px;">
<td style="width: 9.55229%; height: 17px; text-align: center;">0</td>
<td style="width: 14.203%; height: 17px; text-align: center;">$24</td>
</tr>
<tr style="height: 17px;">
<td style="width: 9.55229%; height: 17px; text-align: center;">1</td>
<td style="width: 14.203%; height: 17px; text-align: center;">$33</td>
</tr>
<tr style="height: 17px;">
<td style="width: 9.55229%; height: 17px; text-align: center;">2</td>
<td style="width: 14.203%; height: 17px; text-align: center;">$41</td>
</tr>
<tr style="height: 17px;">
<td style="width: 9.55229%; height: 17px; text-align: center;">3</td>
<td style="width: 14.203%; height: 17px; text-align: center;">$48</td>
</tr>
<tr style="height: 17px;">
<td style="width: 9.55229%; height: 17px; text-align: center;">4</td>
<td style="width: 14.203%; height: 17px; text-align: center;">$54</td>
</tr>
<tr style="height: 17px;">
<td style="width: 9.55229%; height: 17px; text-align: center;">5</td>
<td style="width: 14.203%; height: 17px; text-align: center;">$61</td>
</tr>
<tr style="height: 17px;">
<td style="width: 9.55229%; height: 17px; text-align: center;">6</td>
<td style="width: 14.203%; height: 17px; text-align: center;">$69</td>
</tr>
</tbody>
</table>
<p>Refer to the data above. The total variable cost of producing 5 units is:</p>
<p>A. $61</p>
<p>B. $48</p>
<p>C. $37</p>
<p>D. $24</p>

ECON 3Z03 Lecture 1: Lecture 1

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Related Questions

Day	11 am Class	1230 pm class
Monday	20	30
Wednesday	32	38

Output	Total Cost
0	$24
1	$33
2	$41
3	$48
4	$54
5	$61
6	$69