For a firm in monopolistic competition, the efficient scale is the amount of output at which ________ is a minimum
A) fixed cost
B) average total cost
C) average variable cost
D) average fixed cost
E) marginal cost
B
Economics
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When individuals or firms make an investment, they incur costs today in the hope of future gains
Indicate whether the statement is true or false
Economics
In the case of exact identification
A) you can use the J-statistic in a test of overidentifying restrictions. B) you cannot use TSLS for estimation purposes. C) you must rely on your personal knowledge of the empirical problem at hand to assess whether the instruments are exogenous. D) OLS and TSLS yield the same estimate.
Economics