A single-price monopolist will find when it produces its profit-maximizing amount of output that
A) price exceeds marginal revenue.
B) price exceeds marginal cost.
C) marginal revenue equals marginal cost.
D) All of the above occur at the profit-maximizing output level.
D
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In the case of heterogeneous causal effects, the following is not true:
A) in the circumstances in which OLS would normally be consistent (when E(ui Xi) = 0), the OLS estimator continues to be consistent. B) OLS estimation using heteroskedasticity-robust standard errors is identical to TSLS. C) the OLS estimator is properly interpreted as a consistent estimator of the average causal effect in the population being studied. D) the TSLS estimator in general is not a consistent estimator of the average causal effect if an individual's decision to receive treatment depends on the effectiveness of the treatment for that individual.
"I woke up earlier today to beat other fishermen to the fish and yet I caught the same number of fish at 5 a.m. as I did at noon." Which of the following best explains this occurrence? a. Many other fishermen also believe that they can catch a greater quantity of fish if they arrive earlier at the fishing area. So the area is crowded early in the day. b. The fish do not care when they eat, so
they are likely to bite on the bait at any time during the day. c. The catching of fish is mostly luck, so timing is not important. d. The early bird catches the worm.
Which of the following most likely occurs when an inflationary gap exists?
A. Rising inventories. B. More layoffs. C. Excessive saving. D. Producers will use overtime shifts and strain capacity.
Suppose that a retailer sells 500 six-packs of Dr. Pepper per day at $3.50/six-pack. Also, suppose that the cross-price elasticity between Dr. Pepper and Pepsi is 0.6. Then Dr. Pepper and Pepsi are ________ goods
Fill in the blank(s) with correct word