When a firm is experiencing economies of scale
A) the MP curve slopes upward.
B) the LRAC curve slopes downward.
C) diminishing returns to labor have been suspended.
D) the MC curve slopes downward.
B
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In the bond market, the market equilibrium shows the market-clearing ________ and market-clearing ________
A) price; deposit B) interest rate; deposit C) price; interest rate D) interest rate; premium
If MPL = 3, and MRTS = -4 what is MPK?
A) 12 B) -12 C) 3/4 D) -3/4
Unbiasedness and small variance are desirable properties of estimators
However, you can imagine situations where a trade-off exists between the two: one estimator may be have a small bias but a much smaller variance than another, unbiased estimator. The concept of "mean square error" estimator combines the two concepts. Let be an estimator of ?. Then the mean square error (MSE) is defined as follows: MSE( ) = E( – ?)2. Prove that MSE( ) = bias2 + var( ). (Hint: subtract and add in E( ) in E( – ?)2.) What will be an ideal response?
Special-interest legislation is characterized by
a. concentrated costs and concentrated benefits b. concentrated benefits and widespread costs c. widespread benefits and widespread costs d. widespread benefits and concentrated costs e. zero costs