______ occurs when the firm produces below the level where average total cost is minimized.
a. Monopolistic capacity
b. Excess capacity
c. Total capacity
d. Necessary capacity
b. Excess capacity
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The short run for the industry is defined as a period
A. too brief for new firms to enter the industry. B. too brief for old firms to leave the industry. C. in which the number of firms in the industry is fixed. D. All of the responses are correct.
A swap designed to compensate for mismatched securities is a type of __________ called a __________ swap
A) speculation; currency B) speculation; generic C) hedging; London D) hedging; plain vanilla
A wage offer that is above the market wage, intended to avoid the adverse selection problem, is called a(n)
a. efficiency wage b. union wage c. selection wage d. spurious wage e. opportunity cost wage
A test for heteroskedasticty can be significant if _____.?
A. ?the Breusch-Pagan test results in a large p-value B. ?the White test results in a large p-value C. ?the functional form of the regression model is misspecified D. the regression model includes too many independent variables