An increase in demand could arise from which of the following factors
a. an increase in income
b. a decrease in the price of a complement
c. an increase in the price of a substitute
d. all of the above
d
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If input prices are constant, a firm with increasing returns to scale can expect
A) costs to double as output doubles. B) costs to more than double as output doubles. C) costs to go up less than double as output doubles. D) to hire more and more labor for a given amount of capital, since marginal product increases. E) to never reach the point where the marginal product of labor is equal to the wage.
Suppose the interest rate is 5% and that you are to receive three annual payments of $10,000, with the first payment one year from now, the second payment two years from now, and the third payment three years from now. What is the present value of this stream of payments?
An action at which it is possible to change the activity level in only one direction is called:
A. an interior action. B. a boundary action. C. a limited action. D. a marginal action.
Whenever there is strong heteroskedasticity, it is preferable to use OLS rather than WLS, which may use a possibly misspecified variance function
Answer the following statement true (T) or false (F)