We assume that in the short run in a perfectly competitive market firms:
A. can enter and exit the market.
B. can enter, but not exit the market.
C. can exit, but not enter the market.
D. cannot enter or exit the market.
D. cannot enter or exit the market.
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According to the model of a deposit-refund system
a. the deposit paid captures the MSC of improper waste disposal (MSCIW) b. the refund represents the MPB of improper waste disposal (MPBIW) c. if the deposit is set equal to the MECIW at the competitive equilibrium,the efficient outcome is achieved d. the deposit converts the excess amount of illegal waste disposal to legal waste disposal e. none of the above
Which of the following is true regarding managerial diseconomies?
A) Managerial diseconomies incentivize vertical integration. B) Managerial diseconomies are a cost associated with vertical integration. C) Managerial diseconomies incentivize backward integration. D) Managerial diseconomies incentivize forward integration.
Which of the following is not a basic monetary policy tool used by the Fed?
A. The discount rate. B. Reserve requirements. C. Open-market operations. D. The income tax rate.
Consider the following regression equation: 
. Which of the following indicates a functional form misspecification in E(y|x)?
A. Ordinary Least Squares estimates equal Weighted Least Squares estimates. B. Ordinary Least Squares estimates exceed Weighted Least Squares estimates by a small magnitude. C. Weighted Least Squares estimates exceed Ordinary Least Squares estimates by a small magnitude. D. Ordinary Least Square estimates are positive while Weighted Least Squares estimates are negative.