mgr econ quiz 44 - evidence that the Selected Answer: D....

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Question 14 3 out of 3 points Which of the following is the reason for the existence of consumer surplus? Selected Answer: B. Some consumers are willing to pay more than the market price. Correct Answer: B. Some consumers are willing to pay more than the market price. Question 15 3 out of 3 points Which of the following will NOT affect the price elasticity of demand for a product? Selected Answer: A. The cost of producing the product. Correct Answer: A. The cost of producing the product. Question 16 3 out of 3 points A parameter estimate is said to be statistically significant if there is sufficient
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Unformatted text preview: evidence that the Selected Answer: D. true value of the parameter does not equal zero. Correct Answer: D. true value of the parameter does not equal zero. Question 17 3 out of 3 points If Sams, a local watering hole, increased the price of a pint of Guinness by 20%, it estimates that the number of MBA students purchasing Guinness would decrease by 4%. Based on this data, Selected Answer: B. total revenue would increase because demand is inelastic. Correct Answer: B. total revenue would increase because demand is inelastic....
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mgr econ quiz 44 - evidence that the Selected Answer: D....

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