Nonlinear least squares estimators in general are not

A) consistent.
B) normally distributed in large samples.
C) efficient.
D) used in econometrics.

Answer: C

Economics

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The payment received by suppliers of entrepreneurial skills is called profit

Indicate whether the statement is true or false

Economics

Economies of scale refer to the range of output over which

A) marginal cost exceeds average cost. B) the long-run average cost falls as output increases. C) the marginal product of labor diminishes. D) the long-run average cost is less than the short-run average total cost.

Economics