In the above figure, the long-run equilibrium price and output are
A) $10 and 10.
B) $10 and 12.
C) $7 and 8.
D) $8 and 10.
C
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The cost that does not change as output changes is
A) total fixed cost. B) average fixed cost. C) total variable cost. D) average variable cost. E) marginal cost.
A 10 percent increase in income increases the quantity of apple juice demanded from 18,800 to 21,200 gallons. The income elasticity of demand for apple juice is
A) 0.5. B) 0.8. C) 1.0. D) 1.2.
Which of the following statements apply to international banking facilities (IBFs)?
a. IBFs are subject to U.S. interest rate regulations. b. IBFs are located all over the world. c. IBFs do not require FDIC deposit insurance premiums. d. IBFs offer a higher interest rate spread than normal U.S. banks. e. IBFs allow European residents to participate in the American stock exchanges.
In presence of serial correlation, the OLS variance formula accurately estimates the true variance of the OLS estimator.
Answer the following statement true (T) or false (F)