The estimated regression equation is Y = 10 + 2.5X, if X =0 than the predicted value of Y is equal to:
A) 12.5
B) 10
C) 2.5
D) 7.5
B
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Marginal revenue product for labor for any type of firm is
a. the additional revenue that a firm earns when it employs one more unit of labor. b. the additional revenue that a firm earns when it produces one more unit of output. c. the additional cost of employing one more unit of output. d. the difference between the revenue from employing one more unit of labor and the wage rate.
How are the fundamental economic decisions determined in Cuba?
A) The United Nations decides because Cuba is a developing economy. B) These decisions are made by the country's elders who have had much experience in answering these questions. C) The government decides because Cuba is a centrally planned economy. D) Individuals, firms, and the government interact in a market to make these economic decisions.
Who is the person or firm who is supposed to act on behalf of the principal as discussed in this chapter?
a. attorney b. sales person c. agent d. teachers
The government regulates food additives
A. To restrain the market power of food producers. B. To prevent externalities. C. To keep food producers from dominating their markets. D. To assess their safety.