1. If scale economies are substantial over a large range of output irms arise in the industry, we call such a market structure: a)differentiated b) monopolistic competition =) monopoly d) oligopoly

Ba91-413e-b0d0-304d6bc88162 matically save as you proceed through the test. Question 7 Examine the following table. We know for sure that Choice E is: 11/42 answered Time Remaining: 39m 47s Hide Answers are sa automatically R Number Choice of Desks Number of Chairs ABCDE 0 34 1 22 234 12 5 0 Selected answer will be automatically saved. For keyboard navigation, press up/down arrow keys to select an answer. a Technically efficient. b Allocatively efficient. C Economically efficient. d None of the above. Q Search Saved

1. As the owner of an ice-cream store, you believe it is necessary to purchase another ice-cream maker to meet the increased demand. You need to take a loan to finance it. The loan officer tells you that your revenues of $750,000 are insufficient to support additional debt. To qualify for the loan, your revenues need to be $50,000 higher. To generate additional revenue, you collect data on the price (in cents) per pound you charge customers and the related quantity of ice-cream consumed per year in pounds. The information is saved in HW3_2.xlsx. Use these data to estimate the log-linear demand specification to obtain least squares estimated of the demand for ice-cream. Write an equation that summarizes the demand for ice cream, and then determine the percentage price increase or decrease that is needed in order to boost revenues by $50,000.

Suppose you are shopping online for a new toy for your dog. As you look at the product reviews, you see the following distribution of ratings. Use this table for questions 2-5. Stars 5 4 3 st 2 IN 1 Frequency 9 3 2 1 5