(ECON214)[2009](s)midterm~752^_10239 - Econ 214 Spring 2009...

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1 Econ 214 Spring, 2009 Midterm Exam. Instructor: Yan YU Name:__________________ I.D. number:_____________________ Total Score: ________________________ General Instructions: This is a close-book examination. You have 120 minutes. Please check if you have a total of 6 pages including this cover page. You may use calculators.
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2 I. Multiple choices (5 points each, 35 points total) 1. (2.3) Suppose the demand for X is given by Q X d = 100 - 2P X + 4P Y + 10M + 2A, where P X represents the price of good X, P Y is the price of good Y, M is income and A is the amount of advertising on good X. Good X is a. An inferior good b. A normal good c. A Giffin good d. A complement 2. (3.7) Which of the following provides a measure of the overall fit of a regression? a. T-statistic b. F-statistic c. R-square d. The F-statistic and R-square 3. (3.2) When the own price elasticity of good X is -3.5 then total revenue can be increased by a. Increasing the price b. Decreasing the quantity supplied c. Decreasing the price d. Neither increase price, decrease price nor decrease quantity supplied 4. (2.3, 3.4, 3.5, 3.8) The management of Local Cinema has estimated the monthly
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This note was uploaded on 12/21/2011 for the course ECON 214 taught by Professor Bayemichael during the Spring '09 term at HKU.

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(ECON214)[2009](s)midterm~752^_10239 - Econ 214 Spring 2009...

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