You want to run a difference-in-difference experiment with a price increase for your lawn chairs in Miami, FL. If you are worried about the "representativeness" of your control group, a good comparison city would be
a. Boston, MA
b. San Francisco, CA
c. St. Paul, MN
d. Tampa Bay, FL
d
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A surplus will tend to occur at which price in Figure 4-21?
A. P1 B. P2 C. P3 D. There will be no surplus at the prices shown.
The firm in the figure above is in monopolistic competition. It will set a price equal to
A) $1. B) $2. C) $3. D) more than $3.
The Haig-Simons definition of income and the Fisher definition of income are virtually identical
a. True b. False
Which of the following is true of opportunism?
a. Opportunism increases the possibility that a party can gain by disregarding the contract. b. Opportunism lowers the cost of negotiation between parties when the contract is incomplete or unclear. c. Opportunism allows parties to maximize the value of their transactions. d. Opportunism leads to mutually beneficial outcomes.