Refer to the table below. Busy Betty sells her cakes for $20 each and her constant marginal cost to produce each cake is $12, which is equal to her (constant) average total cost. What is her expected marginal benefit from holding the 23rd cake in inventory?
The above table shows the probability distribution of cake sales at Busy Betty's Bakery.
A) $3.20
B) $8.00
C) $4.80
D) $8.20
A) $3.20
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The class of linear conditionally unbiased estimators consists of
A) all estimators of ?1 that are linear functions of Y1,…, Yn and that are unbiased, conditional on X1,…, Xn . B) OLS, WLS, and TSLS. C) those estimators that are asymptotically normally distributed. D) all estimators of ?1 that are linear functions of X1,…, Xn and that are unbiased, conditional on X1,…, Xn.
The real problem for people in many _______________ countries is not that globalization through international trade has made their lives worse, but rather that they have so few good employment alternatives.
a. low-income b. high-income c. large d. small
Majority rule voting
A. requires a simple majority greater than half the voters. B. requires that rules of order be established. C. does not occur in democracies. D. can only be applied to single issues.
The money multiplier tends to be greater when:
A. individuals hold less cash. B. individuals hold more cash. C. banks hold more excess reserves. D. the reserve ratio increases.