Marginal revenue product equals marginal revenue times the price of output.
Answer the following statement true (T) or false (F)
False
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One firm previously operated as a monopoly. Now, one potential entrant exists. Consumers would prefer
A) entry, and the firms to split the output equally. B) no entry, and for the incumbent to produce the Stackelberg leader level of output. C) entry, and for the incumbent to produce the Stackelberg leader level of output. D) no entry, and the monopoly to continue.
Entry barriers can lead to long-run economic profits.
Answer the following statement true (T) or false (F)
During an economic contraction, housing and stock prices generally
a. fall, leading to a reduction in aggregate demand. b. fall, leading to an increase in aggregate demand. c. rise, leading to a reduction in aggregate demand. d. rise, leading to an increase in aggregate demand.
Suppose the variable x2 has been omitted from the following regression equation,
is the estimator obtained when 
is omitted from the equation. The bias in
src="@@PLUGINFILE@@/ppg__cognero__Ch_03_Multiple_Regression_Analysis_Estimation__media__ddae12c2-50b6-42a4-958e-bb0de3e683a2.PNG" style="vertical-align:-8px;" height="19px" width="16px" /> is positive if _____.
A. 
>0 and 
and 
are positively correlated
B. 
<0 and 
and 
are positively correlated
C. 
>0 and 
and 
are negatively correlated
D. 
= 0 and 
and 
are negatively correlated