What are the steps (methodology) that we need to follow in econometric analysis?

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What are the steps (methodology) that we need to follow in econometric analysis?

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What are the steps (methodology) that we need to follow in econometric analysis?
Consider a consumer who is choosing how many of two goods to buy: Footballs and cricket balls. The consumer has an income of $20, and the cost of a football is $4 and a cricket ball is $2. (a) Write down the equation for the consumer’s budget constraint and graph it.(b) The government decides that football is evil and needs to be taxed. They introduce a 50% tax on each football sold. Rewrite and re-graph the budget constraint.(c) A new government is elected that hates all sports. They now tax both footballs and cricket balls at 50%. What does the budget constraint look like now?
EXPLAIN IN DETAIL BEHAVARIOL THEORY OF FIRM.?
‘You can’t learn what red is just by reading a book. But this fact has no more bearing on the question of physicalism than the fact that you can’t learn to swim just by reading a book.’ Discuss.
A firm’s production function is QQ = 2LL2KK3. a) Write an expression for the marginal product of labor. b) Write an expression for the marginal product of capital. c) Write an expression for the marginal rate of technical substitution of labor for capital.
A perfectly competitive firm is in equilibrium where marginal cost is equal to marginal revenue because:
A consumer has a utility function given by ln _U_ = 5 ln _x_1 + 3 ln _x_2 if the budget constraint is given by 10_x_1 + 14_x_2 = 124, find i) the optimal quantities of the two goods that the consumer should purchase in order to maximise utility, subject to the budget constraint. ii) the value of the consumer’s marginal utility of money at the optimum iii) the marginal rate of substitution (MRS) of _x_1 for _x_2 and determine its direction at the optimum