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The correct answer is option b that is models with quadratic functions. (fact)
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8. Which of the following models is used quite often to capture decreasing or increasing marginal...
7. In the following equation, gdp refers to gross domestic product, BC refers to bank credit, and FDI refers to foreign...
7. In the following equation, gdp refers to gross domestic product, BC refers to bank credit, and FDI refers to foreign direct investment In(odp) = 2.65 +0.527 In (BC) +0.222FDI. Which of the following is true? a. If bank credit increases by 1%, gdp increases by 0.527%, the level of FDI remaining constant b. If gdp increases by 1%, bank credit increases by In(0.527)%, the level of FDI remaining constant c. If ydp increases by 1%, bank credit increases by...
1. Changing the unit of measurement of dependent variable, where log of the dependent variable appears...
1. Changing the unit of measurement of dependent variable, where log of the dependent variable appears in the regression: a. affects only the slope coefficient. b. affects neither the slope nor the intercept coefficient. c. affects only the intercept coefficient. d. affects both the slope and intercept coefficients. 2. Which of the following statements is true when the dependent variable, y > 0? a. Taking log of variables make OLS estimates more sensitive to extreme values. b. Models using log(y)...
blank 1-diminishing or increasing 2-decreasing or increasing 5. The relationship between marginal product and marginal cost...
blank 1-diminishing or increasing
2-decreasing or increasing
5. The relationship between marginal product and marginal cost Musashil's Big Burger is a small restaurant that sells hamburgers. For Musashi, grills are a fixed input and workers are variable inputs. Assume that labor is Musashi's only variable cost. Musashi has a fixed cost of $50 per day and pays each of his workers $50 per day. Musashi's total output schedule and total cost at each level of labor are presented in the...
Which of the following statements is false? a. When the marginal product of labor is increasing,...
Which of the following statements is false? a. When the marginal product of labor is increasing, marginal cost is also increasing. b. The average fixed cost curve is downward sloping and approaches the horizontal axis as output increases. c. The marginal cost curve intersects the average variable cost curve at the minimum point of the average variable cost curved. d. When the marginal cost is greater than the average total cost, the average total cost must be increasing. please explain...
20. When the average product of labor is decreasing, which of the following would you expect...
20. When the average product of labor is decreasing, which of the following would you expect to see? a. Average total cost is decreasing b. Average variable cost is increasing c. Marginal cost is decreasing d. Marginal product is greater than average product 21. When a firm is experiencing economies of scale, the slope of the long run average cost (LRAC) curve is This implies that the marginal cost curve lies the LRAC curve. a. Positive; above b. Positive; below...
The second part of this question's options are increasing or decreasing 5. The relationship between marginal physical p...
The second part of this question's options are increasing or
decreasing
5. The relationship between marginal physical product and marginal cost Shen's Big Burger is a small restaurant that sells hamburgers. For Shen, grills are a fixed input and workers are variable inputs. Assume that labor is Shen's only variable cost. Shen has a fixed cost of $50 per day and pays each of his workers $50 per day. Shen's total product schedule and total cost at each level of...
Which of those is not often used for validating logistic regression models? Select one: a. Receiver...
Which of those is not often used for validating logistic regression models? Select one: a. Receiver Operating Curve (ROC) b. R2 c. Classification Tables d. Validation Dataset
Which of the following best represents the idea of the marginal cost of increasing speed while...
Which of the following best represents the idea of the marginal cost of increasing speed while driving? a. The total amount of time it will take to arrive at your destination b. The amount of time saved by increasing your speed c. The probability that you receive a ticket for speeding d. The increase in the probability that you receive a ticket as you increase speed Which of the following could be considered an indirect response to incentives provided by...
14. Refer to Figure 13-8. Which of the following statements is correct? a. Marginal cost is...
14. Refer to Figure 13-8. Which of the following statements is correct? a. Marginal cost is rising for quantities higher than D because marginal cost is higher than average total cost. b. Average variable cost is declining for quantities less than B because marginal cost is lower than average variable cost. c. Marginal cost is minimized at B because at that quantity, marginal cost equals average variable cost. d. All of the above are correct. 15. When marginal cost is...
If a production process faces diminishing marginal returns, which of the following is most likely? A...
If a production process faces diminishing marginal returns, which of the following is most likely? A marginal costs are constant B marginal costs are increasing C marginal costs are decreasing D marginal costs may increase and then eventually decrease
7. In the following equation, gdp refers to gross domestic product, BC refers to bank credit, and FDI refers to foreign direct investment In(odp) = 2.65 +0.527 In (BC) +0.222FDI. Which of the following is true? a. If bank credit increases by 1%, gdp increases by 0.527%, the level of FDI remaining constant b. If gdp increases by 1%, bank credit increases by In(0.527)%, the level of FDI remaining constant c. If ydp increases by 1%, bank credit increases by...
blank 1-diminishing or increasing
2-decreasing or increasing
5. The relationship between marginal product and marginal cost Musashil's Big Burger is a small restaurant that sells hamburgers. For Musashi, grills are a fixed input and workers are variable inputs. Assume that labor is Musashi's only variable cost. Musashi has a fixed cost of $50 per day and pays each of his workers $50 per day. Musashi's total output schedule and total cost at each level of labor are presented in the...
20. When the average product of labor is decreasing, which of the following would you expect to see? a. Average total cost is decreasing b. Average variable cost is increasing c. Marginal cost is decreasing d. Marginal product is greater than average product 21. When a firm is experiencing economies of scale, the slope of the long run average cost (LRAC) curve is This implies that the marginal cost curve lies the LRAC curve. a. Positive; above b. Positive; below...
The second part of this question's options are increasing or
decreasing
5. The relationship between marginal physical product and marginal cost Shen's Big Burger is a small restaurant that sells hamburgers. For Shen, grills are a fixed input and workers are variable inputs. Assume that labor is Shen's only variable cost. Shen has a fixed cost of $50 per day and pays each of his workers $50 per day. Shen's total product schedule and total cost at each level of...
14. Refer to Figure 13-8. Which of the following statements is correct? a. Marginal cost is rising for quantities higher than D because marginal cost is higher than average total cost. b. Average variable cost is declining for quantities less than B because marginal cost is lower than average variable cost. c. Marginal cost is minimized at B because at that quantity, marginal cost equals average variable cost. d. All of the above are correct. 15. When marginal cost is...
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