Economic Principles and Decision Making Harvard Case Solution & Analysis

Economic Principles and Decision Making Case Solution

Reducing tariff barriers resulted or lead to the lower priced product or services. However it can be said that the countries would beneficially increase the margins in case of a free trade as this will create more organizations to come forward with their product.

Existing industries would boom as new markets are created, job employment will reach to a higher level, and this will all in return provide economic boom and be beneficial for the country and the people.

Exhibit

ANOVA
  df SS MS F Significance F
Regression 3 11019.2105 3673.070166 60.07748704 2.94899E-09
Residual 17 1039.36093 61.13887825
Total 20 12058.57143

 

  Coefficients Standard Error t Stat P-value Lower 95% Upper 95% Lower 95.0% Upper 95.0%
Intercept -12.16021978 11.30761101 -1.075401318 0.297221563 -36.01719364 11.69675407 -36.01719364 11.69675407
Average income per person 0.004837918 0.001815213 2.665206601 0.016316406 0.001008153 0.008667683 0.001008153 0.008667683
Tariff rate on imports of energy bars -6.456977068 1.041615246 -6.199003994 9.71362E-06 -8.654593139 -4.259360996 -8.654593139 -4.259360996
Number of stores where energy bars are offered 4.072444073 1.897801051 2.145875128 0.046613919 0.068433852 8.076454295 0.068433852 8.076454295
Share This