15) In the figure above, the opportunity cost of moving from point B to point C
A) is the loss in production in the healthcare sector.
B) is the increase in production in the education sector.
C) is zero.
D) is the loss in production in the education sector.
A) is the loss in production in the healthcare sector.
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The following table shows the different quantities sold by a monopolist at different prices
Quantity (units) Price ($) 1,000 14 1,350 12 1,700 10 2,100 8 2,650 6 3,000 4 3,300 2 a) Estimate the total revenue and marginal revenue of the monopolist at the different quantities. b) If the monopolist faces a constant marginal cost of $2.29, what is the optimal output it should produce?
In the simple linear regression model Yi = ?0 + ?1Xi + ui,
A) the intercept is typically small and unimportant. B) ?0 + ?1Xi represents the population regression function. C) the absolute value of the slope is typically between 0 and 1. D) ?0 + ?1Xi represents the sample regression function.
A person who voluntarily quits his/her job in New York and expects to get a similar job in Los Angeles is an example of:
a. frictional unemployment. b. structural unemployment. c. durational unemployment. d. cyclical unemployment.
Cowrie shells have been used as money is West Africa. This is an example of
A. fiat money. B. token money. C. legal money. D. commodity money.