Suppose the total cost of producing T-shirts can be represented as TC = 50 + 2q. The average cost of the 5th T-shirt is

An example of a time series data set is one for which the:

a. data would be collected for a given firm for several consecutive periods (e.g., months). b. data would be collected for several different firms at a single point in time. c. regression analysis comes from data randomly taken from different points in time. d. data is created from a random number generation program. d. use of regression analysis would impossible in time series.

Which of the following is the best example of a monopoly in the United States?

a. the U.S. Postal Service. b. the aluminum industry. c. a government-regulated public utility. d. the automobile industry.