In the price fixing game, when both firms choose their dominant strategy, each firm will generally earn more profits than when both firms choose the alternative strategy.
Answer the following statement true (T) or false (F)
False
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Domestic demand for a good is QD = 3000 - 25P. The domestic supply of the good is QS = 20P. Foreign producers can supply any quantity at a price (P) of $30
a. What is the domestic equilibrium price and quantity? b. At this domestic equilibrium price, how much of the good will be supplied by domestic producers and how much by foreign producers?
If Xit is correlated with Xis for different values of s and t, then
A) Xit is said to be autocorrelated B) the OLS estimator cannot be computed C) statistical inference cannot proceed in a standard way even if clustered standard errors are used D) this is not of practical importance since these correlations are typically weak in applications
The forecasting technique which attempts to forecast short-run changes and makes use of economic indicators known as leading, coincident or lagging indicators is known as:
a. econometric technique b. time-series forecasting c. opinion polling d. barometric technique e. judgment forecasting
Producer surplus is the area
a. under the supply curve. b. between the supply and demand curves. c. below the price and above the supply curve. d. under the demand curve and above the price.