Tara, a pharmacist, is planning on opening her own pharmacy. Tara currently earns $50,000 a year at her job. She has calculated that it will cost her $6,000 in rent and utilities and $25,000 for an assistant per year to run her pharmacy
What is the amount of opportunity cost that Tara incurs in running her own pharmacy? A) $31,000
B) $25,000
C) $50,000
D) $81,000
D
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Total surplus in a market can be measured as the area below the supply curve plus the area above the demand curve, up to the point of equilibrium
a. True b. False Indicate whether the statement is true or false
Which of the following assumptions is required to obtain a first-differenced estimator in a two-period panel data analysis?
A. The explanatory variable does not change over time for any cross-sectional unit. B. The explanatory variable changes by the same amount in each time period. C. The variance of the error term in the regression model is not constant. D. The idiosyncratic error at each time period is uncorrelated with the explanatory variables in both time periods.