The table above shows four methods for producing 10 computer desks a day. If the cost of a worker is $100 a day and the cost of capital is $100 a day, the method that is economically efficient is ________

The Gauss-Markov theorem for multiple regression states that the OLS estimator

A) has the smallest variance possible for any linear estimator. B) is BLUE if the Gauss-Markov conditions for multiple regression hold. C) is identical to the maximum likelihood estimator. D) is the most commonly used estimator.

Suppose the value of income elasticity of demand for a private college education is equal to 1.5 . This means that:

a. every $1 increase in income provides an incentive for a $1.50 increase in expenditures on private college education. b. every $1.50 increase in income provides an incentive for a $1 increase in expenditures on private college education. c. a 10 percent increase in income causes a 15 percent increase in the quantity of private college education purchased. d. a 15 percent increase in income causes a 10 percent increase in the quantity of private college education purchased. e. a 10 percent decrease in private college tuition will have a large enough income effect to increase spending on private college education by 15 percent.