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mgr econ quiz 3 - beer increases we would expect to see...

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Question 7 3 out of 3 points In a regression equation, the ______ captures the effects of factors that might influence the dependent variable but aren't used as explanatory variables Selected Answer: B. Random error term. Correct Answer: B. Random error term. Question 8 3 out of 3 points Which of the following statements is true: Selected Answer: C. A firm's accounting costs are smaller than its economics costs. Correct Answer: C. A firm's accounting costs are smaller than its economics costs.
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Question 9 3 out of 3 points Assume that beer and pretzels are complements in consumption; if the price of
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Unformatted text preview: beer increases, we would expect to see: Selected Answer: C. a decrease in the demand for pretzels. Correct Answer: C. a decrease in the demand for pretzels. Question 10 3 out of 3 points A company is producing 1,000 units. At this output level, price is $1.50, and marginal revenue is $1.25. Average total cost is $1.10 and marginal cost is $1.40. What can we conclude from this information? Selected Answer: C. The company is producing too much. Correct Answer: C. The company is producing too much....
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