Choose the statement that best describes how endogenous variables ...

[bvyeehaw]

Question 1

Figure 2-5 shows monthly average (per unit) production costs for producing Good X.



FIGURE 2-5
Refer to Figure 2-5. What is the slope of this non-linear function when 1200 units per month are being produced?

◦ -2
◦ -0.25
◦ 0.25
◦ -4
◦ 4

Question 2

Choose the statement that best describes how endogenous variables differ from exogenous variables.
◦ An endogenous variable is explained within the theory, while an exogenous variable influences the endogenous variables but is determined outside the theory.
◦ An endogenous variable is explained outside the theory and influences an exogenous variable while an exogenous variable is explained within the theory.
◦ An exogenous variable is a function of the endogenous variable, and both are flow variables.
◦ An endogenous variable is a flow, while an exogenous variable is a stock.
◦ An endogenous variable is a function of the exogenous variable, and both are stock variables.

[MajorWaffle]

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[bvyeehaw]

YES! Correct, THANKS for helping me on my review

[Perkypinki]

Thanks for the timely response, appreciate it