Which of the following represents an illegal control of prices?
A. Colluding
B. Following the leader without explicit agreements to do so
C. Following the price determined by an analysis of supply and demand
D. Accepting a government mandated price without contesting it
A. Colluding
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The t-statistic is calculated by dividing
A) the OLS estimator by its standard error. B) the slope by the standard deviation of the explanatory variable. C) the estimator minus its hypothesized value by the standard error of the estimator. D) the slope by 1.96.
If the firm in the given graph were to produce Q2 and charge P2, then:
These are the cost and revenue curves associated with a firm.
A. economic profit would be negative.
B. deadweight loss would be positive.
C. producer surplus would be zero.
D. profits would be maximized.
The utility possibility frontier helps to predict the exact bargain two parties will arrive at
Indicate whether the statement is true or false
If the supply curve is perfectly inelastic and an excise tax is imposed
a. all of the tax is paid by buyers b. all of the tax is paid by sellers c. the market price will rise by the amount of the tax d. the market price will fall by the amount of the tax e. the tax is divided equally between buyers and sellers