The cross price elasticity for peanut butter for a change in the price of jelly is likely to be
A. positive and less than 1.
B. positive and greater than 1.
C. zero.
D. negative.
Answer: D
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The firm is considering changing its price to $900. Predict the quantity demanded at that price, all other things equal and provide a 95% confidence interval on your estimate
(In doing this, explain the value of t-critical you will use in developing your 95% confidence interval.)
Think of a firm that has a monopoly producing milk. The firm's demand curve is
a. identical to the demand curve for milk facing the industry b. identical to its marginal revenue curve c. tangent to the firm's ATC curve d. tangent to its marginal revenue curve e. more elastic than the demand curve of any perfectly competitive firm producing milk
Which of the following statements is true?
A. OLS estimates in censored regression models are consistent estimators of the population coefficients. B. In a truncated regression model, the samples are not included randomly from an underlying population but are based on a given rule. C. In a censored regression model, units in the sample are taken from a particular subset of the population. D. Maximum likelihood estimators are consistent in truncated regression models even if there is nonnormality or heteroskedasticity in the error terms.
Comparing market values over time has the
What will be an ideal response?