Refer to the information provided in Table 8.5 below to answer the question(s) that follow.
Table 8.5Number of SwordsTVCMCAVCTFCTCAFCATC0???? 50??1?25?????2??????47.503??23.33????4????150??5135??????Refer to Table 8.5. If Phoebe produces five swords, her total costs are
A. $160.
B. $180.
C. $185.
D. $200.
Answer: C
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In the Fixed Effects regression model, you should exclude one of the binary variables for the entities when an intercept is present in the equation
A) because one of the entities is always excluded. B) because there are already too many coefficients to estimate. C) to allow for some changes between entities to take place. D) to avoid perfect multicollinearity.
Frank owns an apple farm and plans to spend 4 hours today picking apples. The number of apples he can pick per hour depends on the total number of hours he spends working in either the east orchard or the west orchard in the manner shown in the accompanying table below.Hours in East OrchardNumber of Apples Per HourHours in West OrchardNumber of Apples Per Hour140110232210325310420410 If Frank spends 2 hours picking apples in the east orchard and 2 hours picking apples in the west orchard, how many apples in total will Frank be able to pick today?
A. 21 B. 42 C. 92 D. 84
What is the substitution effect for leisure demand?
What will be an ideal response?
Justin and Maria work at a restaurant. Jose can make either 10 pancakes or 4 waffles; Maria can make either 8 pancakes or 2 waffles. According to this scenario
A. Maria has the comparative advantage in making waffles. B. Justin has the absolute advantage in making waffles. C. Maria has the absolute advantage in making waffles. D. Justin has the comparative advantage in making pancakes.