Author Question: When the cost of a resource is sunk, then the dual price can be interpreted as the a. minimum ... (Read 82 times)

lracut11 · **on:** Jun 24, 2018

When the cost of a resource is sunk, then the dual price can be interpreted as the
a. minimum amount the firm should be willing to pay for one additional unit of the resource.
b. maximum amount the firm should be willing to pay for one additional unit of the resource.
c. minimum amount the firm should be willing to pay for multiple additional units of the resource.
d. maximum amount the firm should be willing to pay for multiple additional units of the resource.

Question 2

For a one-tailed test (upper tail) with a sample size of 900, the null hypothesis will be rejected at the .05 level of significance if the test statistic is _____.
a. less than or equal to 1.645
b. greater than or equal to 1.645
c. less than 1.645
d. less than 1.96