If 1 U.S. dollar exchanges for 122.57 Japanese yen, how much would it cost in U.S. dollars and cents to purchase a Toyota Camry priced at 2 million yen?
What will be an ideal response?
2,000,000 รท 122.57 = $16,317.21
Economics
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In the above figure, if the single-price monopolist charges a price that maximizes its profits, consumer surplus is
A) area hacd. B) area bac. C) area jae. D) area jbce.
Economics
To test whether or not the population regression function is linear rather than a polynomial of order r,
A) check whether the regression R2 for the polynomial regression is higher than that of the linear regression. B) compare the TSS from both regressions. C) look at the pattern of the coefficients: if they change from positive to negative to positive, etc., then the polynomial regression should be used. D) use the test of (r-1) restrictions using the F-statistic.
Economics