The indifference curves for left gloves and right gloves are straight lines
a. True
b. False
Indicate whether the statement is true or false
False
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The confidence interval for a single coefficient in a multiple regression
A) makes little sense because the population parameter is unknown. B) should not be computed because there are other coefficients present in the model. C) contains information from a large number of hypothesis tests. D) should only be calculated if the regression R2 is identical to the adjusted R2.
If the U.S. demand for British pounds increases,
a. the dollar price of a British pound will increase b. the dollar price of a British pound will decrease c. the exchange rate between dollars and pounds will be out of equilibrium d. the pound will fall in value against the dollar e. there will be no change in either the value of the dollar or the pound
Which of the following would cause price to increase?
a. an increase in supply b. a decrease in demand c. a surplus of the good d. a shortage of the good
Suppose total cost is $1,000 when output is zero, $1,200 when output is one, and $1,500 when output is two, then which of the following is true?
a. Average total cost is $500 when two units of output are produced. b. Total fixed cost is $1,500. c. The marginal cost of producing the first unit of output is $1,200. d. The marginal cost of producing the second unit of output is $300.