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Quiz: Econ 280 Exam 2 Study Chap 3b, 5, 6, 7

Question 1 / 42

The % of the changes in the Y (dependent variable) can be explained by the changes in X.

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 8 / 42

The P-Value is only statisically significant if its (Absolute value is)

Question 9 / 42

The _______ tests the overall significance of the regression model.

Question 10 / 42

The F-Stat is only statiscially significant if its (Absolute value is)

Question 12 / 42

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

What is the Marginal Cost of C(Q)=69+45Q+38Q^2+19Q^3 When Q=15

Question 23 / 42

Question 28 / 42

Using what you learned in the previous question: How to calcute MC Calculate MC for # 4.

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

Econ 280 Exam 2 Study Chap 3b, 5, 6, 7. Question 30

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 31 / 42

Question 32 / 42

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

What is the four firm concentation. Firm A=353,735 B=234,900 C=194,345 D=799,345 E=762,234 F=704,403 G=666,789

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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