For a given significance level, if the calculated value of the Durbin Watson statistic lies between the lower critical value and the upper critical value, _____.
A. the hypothesis of no serial correlation is accepted
B. the hypothesis of no serial correlation is rejected
C. the test is inconclusive
D. the hypothesis of heteroskedasticity is accepted
Answer: C
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As the stock of capital grows, there will typically be ________ depreciation
A) less B) more C) the same amount of D) no
Which of the following occurs with both perfectly price discriminating and single-price monopolies?
A) The amount of output is inefficient. B) All consumer surplus goes to the monopoly. C) Deadweight loss is created. D) There is a redistribution of consumer surplus to the monopoly.
Consider the following pairs of items:
a. shampoo and conditioner b. iPhones and earbuds c. a laptop computer and a desktop computer d. beef and pork e. air-travel and weed killer Which of the pairs listed will have a negative cross-price elasticity? A) a and b only B) c and d only C) e only D) a, b, and c only
A perfectly competitive firm has total revenue and total cost curves given by:
TR = 100Q TC = 5,000 + 2Q + 0.2 Q2 a. Find the profit-maximizing output for this firm. b. What profit does the firm make?