A manager wishes to estimate an average cost equation of the following form:C = a + bQ + cQ2whereQ is the level of output. Letting Z = Q2 and using least-squares estimation, the manager obtains the following computer output:
Given the above information, the value of R2 indicates that ________ of the total variation in C is explained by the regression equation.
A. 7679%
B. 7.679%
C. 76.79%
D. 0.7679%
Answer: C
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Vinny consumes tacos and chicken wings. To keep his utility constant, he must consume more tacos if he consumes fewer chicken wings. This means that
A) Vinny's indifference curve for tacos and chicken wings must have a negative slope. B) Vinny's marginal rate of substitution must be constant along his indifference curves for tacos and chicken wings. C) Vinny's marginal utility from each good must be constant along his convex indifference curves for tacos and chicken wings. D) the prices Vinny pays for tacos and chicken wings are always the same.
What do diseconomies of cities include?
(a) Pollution (b) Crime (c) Congestion (d) All of the above
Birth- and population-control efforts in many DVCs (developing countries) face the following obstacles, except:
A. Low literacy rates B. Religious reasons C. Peasant agriculture view about children D. Government authorities
Describe the main characteristics of direct foreign aid from IAC to DVC.
What will be an ideal response?