As an individual consumes more of a product within a given period of time, it is likely that each additional unit consumed will yield
A. the same amount of satisfaction.
B. less satisfaction for a while and then start to add more satisfaction.
C. successively less satisfaction.
D. successively more satisfaction.
Answer: C
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For a perfectly competitive firm, the long-run supply curve is the long-run average cost curve.
Answer the following statement true (T) or false (F)
The United States exports
A) goods only. B) services only. C) manufactured goods only. D) goods and services. E) only agricultural products and high-tech goods.
The above figure shows the payoff to two airlines, A and B, of serving a particular route. If the two airlines must decide simultaneously, how many Nash equilibria are there?
A) 0 B) 1 C) 2 D) It cannot be determined.
The Times Series Regression with Multiple Predictors
A) is the same as the ADL(p,q) with additional predictors and their lags present. B) gives you more than one prediction. C) cannot be estimated by OLS due to the presence of multiple lags. D) requires that the k regressors and the dependent variable have nonzero, finite eighth moments.