Which factor always results in an increase in price and quantity?
A. an increase in supply with no change in demand
B. an increase in supply and a decrease in demand
C. a decrease in demand and supply
D. an increase in demand with no change in supply
D. an increase in demand with no change in supply
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(Requires Calculus) In the multiple regression model you estimate the effect on Yi of a unit change in one of the Xi while holding all other regressors constant. This
A) makes little sense, because in the real world all other variables change. B) corresponds to the economic principle of mutatis mutandis. C) leaves the formula for the coefficient in the single explanatory variable case unaffected. D) corresponds to taking a partial derivative in mathematics.
For the monopolistically competitive firm,
a. competition is blocked by barriers to entry b. limit pricing can forestall competition indefinitely c. marginal revenue is less than the product's price d. price discrimination is a key tool e. marginal revenue is equal to the product's price
According to the Equal Pay Act of 1963, men and women who work for the same employer must receive the same pay in which of the following situations?
a. When they perform the same amount and type of work b. When they have been employed for the same length of time c. When they have the same level of experience and education d. When they perform similar tasks and have similar responsibilities
Parity pricing was designed to
a. create income equality among farmers b. maintain farmers' purchasing power relative to nonfarmers' purchasing power c. provide an incentive for farmers to leave farming for nonfarming economic activity d. encourage investment in agriculture by providing below-equilibrium prices for agricultural equipment e. restore market prices in agriculture to their equilibrium levels