In monopolistically competitive industries, firms find it easy to enter and exit the market in the long run.
Answer the following statement true (T) or false (F)
True
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Refer to Table 4-8. Suppose that the quantity of labor supplied increases by 40,000 at each wage level. What are the new free market equilibrium hourly wage and the new equilibrium quantity of labor?
A) W = $9.00; Q = 410,000 B) W = $9.50; Q = 420,000 C) W = $8.00; Q = 390,000 D) W = $8.50; Q = 400,000
Prospective sunk costs
A) are relevant to economic decision-making. B) are considered as investment decisions. C) rise as output rises. D) do not occur when output equals zero.
The IV estimator can be used to potentially eliminate bias resulting from
A) multicollinearity. B) serial correlation. C) errors in variables. D) heteroskedasticity.
When you have equity in a company, it means you:
A. own part of a company and share in its profits. B. have diversified the company's risk. C. have diversified your risk by investing with a company. D. own a portion of the debt obligations of a company.