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Question 1 / 42
The % of the changes in the Y (dependent variable) can be explained by the changes in X.
Question 2 / 42
How can we estimate the Paramaters using real world data?
Question 3 / 42
The simple regression model is also known as?
Question 4 / 42
What is the problem with populatio data?
Question 5 / 42
A_______ is a rule that enables us to estimate unknown paramaters using simple data.
Question 6 / 42
How would you interpret the regression result? Y hat= 75+110X Intercept (=+75) Slope?
Question 7 / 42
The T-Stat is only statistically significant if its (Absolute value is)
Question 9 / 42
The _______ tests the overall significance of the regression model.
Question 11 / 42
What are some problems with regression studies?
Question 12 / 42
A production function that assumes some degree of substitutability among inputs.
Question 13 / 42
Range of input usage over which marginal product declines.
Question 14 / 42
Exist whenever long-run average costs increase as output increases.
Question 15 / 42
Exist whenever long-run average costs decline as output increases.
Question 16 / 42
Exist when the total cost of producing two products within the same firm is lower than when the products are produced by separate firms.
Question 17 / 42
A line that represents the combinations of inputs that will cost the producer the same amount of money.
Question 18 / 42
Defines the combinations of inputs that yield the same level of output.
Question 19 / 42
The rate at which a producer can substitute between two inputs and maintain the same level of output.
Question 20 / 42
The rate at which a consumer is willing to substitute one good for another good and still maintain the same level of satisfaction.
Question 21 / 42
Question 22 / 42
Calculate the Cost Minimization of Labor: Wage $18.5, Capital $45.75, MPL 190, MPC 211 What method should be used to minimize costs?
Question 23 / 42
Fixed Costs + Variable Costs =?
Question 24 / 42
Fixed Cost / (Q) Output =?
Question 25 / 42
Variable Costs/ (Q) Output =?
Question 26 / 42
Total Cost / (Q) Output =?
Question 27 / 42
What 2 methods can be used to calcualte Marginal Cost or MC?
Question 28 / 42
Question 29 / 42
Buying a new computer system for you comapny that will be obsoliete in 3 years is an example of a ?
Question 30 / 42
Profit maximization in hiring inputs XYZ's compnays production function is it can sell output at P=$11.50/unit It can hire workers at W=$110/day How many workers should it hire to maximize p
Question 32 / 42
What are the pros of a spot exchange?
Question 33 / 42
What is a Con of a contract?
Question 34 / 42
What is a Con of vertical integration?
Question 35 / 42
A firm has a legal standing agreement to pruchase steel from a mill. This is an example of ?
Question 36 / 42
In a hurry a firm pruchases a competitiors product to complete their product for shipment. This is an example of ?
Question 37 / 42
Costs associated with acquiring an input in excess of the amount paid to the input supplier?
Question 38 / 42
A buyer of circuit boards is located dirctly next to its supplier of silicon, This is an example of ?
Question 39 / 42
A peice of equipment needed to pricudce an input is designed to meet the needs of a particular buyer and cannot be realidlly adapted to produce inputs needed by other buyers?
Question 40 / 42
What is the HHI of firms X, Y, Z. X= 1,250,000 Y=756,000 Z=1,500,000 Answer should be rounded up to next whole number!!!
Question 41 / 42
Question 42 / 42
A firm has $62,345,555 in sales with a linier index of .87, and a marginal cost of $293. What is the price and the mark up factor
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