The exponential function
A) is the inverse of the natural logarithm function.
B) does not play an important role in modeling nonlinear regression functions in econometrics.
C) can be written as exp(ex).
D) is ex, where e is 3.1415….
Answer: A) is the inverse of the natural logarithm function.
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The loan market is in equilibrium. If the demand for land decreases, the rental rate of land ________
A) might rise or fall B) rises C) falls D) remains unchanged
Tommy's Tires operates in a perfectly competitive market. If the market price equals $50 per tire and ATC = $60 per tire at the profit-maximizing level of output, then in the long run
a. more firms will enter the market b. the market supply curve will shift to the right c. the equilibrium price per tire will fall d. average total costs will rise e. the market supply curve will shift to the left