Surplus refers to:
A. a way of measuring who benefits from transactions and by how much.
B. the difference between the price the seller would have accepted and the actual sell price.
C. the difference between the price the buyer would have paid and the actual price paid.
D. All of these statements are true.
Answer: D
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An R2 close to 1
A) does not happen with real data. B) indicates that almost all of the variation in the dependent variable is explained by the regression. C) does not explain variation as well as an R2 that is above 2. D) means that the regression line does not fit the data very well.
When Microsoft put together a set of products with the Windows operating system, it was practicing
A) bundling. B) tie-in sales. C) versioning. D) compacting.
A marginal change is a small incremental adjustment to an existing plan of action
a. True b. False Indicate whether the statement is true or false
The Coase theorem will hold only if:
A. government will provide free mediation. B. the transactions costs are clearly identified and assigned. C. the contracts are enforceable. D. None of these statements is true.