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Author Question: An estimated demand curve does NOT necessarily match actual data perfectly because A) it is not ... (Read 64 times)

dejastew

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on: Jul 1, 2018
An estimated demand curve does NOT necessarily match actual data perfectly because
 
  A) it is not possible to accurately calculate the coefficients of the curve.
  B) some factors that are not measured or observed may affect the curve.
  C) the random error term has too large of a range.
  D) demand is unpredictable.

Question 2

Max has allocated 100 toward meats for his barbecue. His budget line and an indifference map are shown in the above figure. Which of the following bundles are in Max's opportunity set?
 
  A) a, b, c
  B) b, d, e
  C) a, b, d
  D) None of the above


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amandanbreshears

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Reply #1 on: Jul 1, 2018
Answer to Question 1

B

Answer to Question 2

B


dejastew

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Reply #2 on: Jul 1, 2018
Correct answers!


amandanbreshears

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Reply #3 on: Jul 1, 2018
Great! Please up vote :D


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