"the fictional country of yieng has had an influx of updated technology to its manufacturing plants and the medical field in the last three years. this has boosted the growth of the country’s productivity by 75%, but this year the pace has significantly dropped off. wages were at first slow to respond to the growth, but now have reached new heights. now that productivity growth has stopped increasing, what do you expect to happen to the natural unemployment rate for this stimed growth period? "

Total marketing effort is a term used to describe the critical decision factors that affect demand: price, advertising, distribution, and product quality. define the variable x to represent total marketing effort. a typical model that is used to predict demand as a function of total marketing effort is based on the power function: d = axb suppose that a is a positive number. different model forms result from varying the constant b. sketch the graphs of this model for b = 0, b = 1, 0< b< 1, b< 0, and b> 1. (we encourage you to use excel to do this.) what does each model tell you about the relationship between demand and marketing effort? what assumptions are implied? are they reasonable? how would you go about selecting the appropriate model?