Refer to the graph below. At equilibrium, the total revenues received by sellers would be represented by the area:

The equilibrium point in the market is where S and D curve intersect.







A. b

B. b + c

C. a + b

D. b + c + d


B. b + c

Economics

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The notation for panel data is (Xit, Yit), i = 1, ..., n and t = 1, ..., T because

A) we take into account that the entities included in the panel change over time and are replaced by others. B) the X's represent the observed effects and the Y the omitted fixed effects. C) there are n entities and T time periods. D) n has to be larger than T for the OLS estimator to exist.

Economics

Which of the following is most likely to be private property?

A) bees B) house flies C) farm raised chickens D) winds

Economics

If variable X rises as a result of variable Y falling, then X and Y have an inverse relationship

Indicate whether the statement is true or false

Economics

Which of the following is true of a natural experiment?

A. A natural experiment occurs when some endogenous event changes the environment in which individuals, families, firms, or cities operate. B. The control group in a natural experiment is randomly chosen. C. The treatment group in a natural experiment is randomly chosen. D. Control and treatment groups in a natural experiment arise due to an exogenous event.

Economics