A firm's minimum efficient scale occurs where the long-run average total cost curve reaches its minimum
a. True
b. False
A
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"Heteroskedasticity typically occurs in cross-sections, while serial correlation is typically observed in time-series data." Discuss and critically evaluate this statement
What will be an ideal response?
Suppose a professor announces at the beginning of a course that he will give no failing grades because they are too damaging to self-esteem. How does such a policy affect equality and efficiency?
Given high transactions costs, the best way to deal with a positive externality is
A. to allow both parties to negotiate. B. to limit the extent of the externality. C. to subsidize it. D. to tax it.
Given that income is $300, the price of good Y is $15, and the price of good X is $20, what is the vertical intercept of the budget line?
A. 20 B. 4,500 C. 300 D. 15