In the simplest version of the Cournot model, we assume
A) the firms set price independently and simultaneously.
B) the firms set price independently and sequentially.
C) that the firms have identical costs.
D) the firms are in a Nash equilibrium.
C
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The nation of Hyperbole is in a recession, and the government decides to increase taxes and reduce government spending to reduce the growing deficit. This will ________ aggregate demand and will likely ________ real GDP and employment
A) decrease; decrease B) decrease; increase C) increase; decrease D) increase; increase
A monopolistically competitive firm differs from a perfectly competitive firm in the long run in that
A) the demand curve faced by a monopolistically competitive firm is downward sloping, while the demand curve faced by a perfectly competitive firm is horizontal. B) profits are positive for a monopolistically competitive firm and zero for a perfectly competitive firm. C) profits are zero for a monopolistically competitive firm and positive for a perfectly competitive firm. D) marginal cost equals the market price for a monopolistically competitive firm but not for a perfectly competitive firm.
In order to formulate whether or not the alternative hypothesis is one-sided or two-sided, you need some guidance from economic theory
Choose at least three examples from economics or other fields where you have a clear idea what the null hypothesis and the alternative hypothesis for the slope coefficient should be. Write a brief justification for your answer. What will be an ideal response?
At equilibrium, if quantity supplied is 16, quantity demanded
A. is less than 16. B. is 16. C. is more than 16. D. cannot be found without more information.