Which of the following is most easily excludable?
A) ideas
B) capital
C) technology
D) a set of designs or instructions
B
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When a monopoly cuts its price to increase its sales, it experiences a loss in revenue due to the ________
Fill in the blank(s) with the appropriate word(s).
Which of the following statements is NOT true of consumer finance companies?
A) Their borrowers have higher default risk than bank customers. B) They charge higher interest rates than banks do on similar loans. C) They lend primarily to consumers. D) They are strictly regulated by state governments.
Heteroskedasticity- and autocorrelation-consistent standard errors
A) result in the OLS estimator being BLUE. B) should be used when errors are autocorrelated. C) are calculated when using the Cochrane-Orcutt iterative procedure. D) have the same formula as the heteroskedasticity robust standard errors in cross-sections.
Suppose a tax of $4 per unit is imposed on a good, and the tax causes the equilibrium quantity of the good to decrease from 2,000 units to 1,700 units. The tax decreases consumer surplus by $3,000 and decreases producer surplus by $4,400 . The deadweight loss of the tax is
a. $200. b. $400. c. $600. d. $1,200.