The Class of Linear Conditionally Unbiased Estimators Consists of

question 14

Multiple Choice

The class of linear conditionally unbiased estimators consists of

• A)all estimators of β₁ that are linear functions of Y₁,…, Y_n and that are unbiased, conditional on X₁,…, X_n .
• B)OLS, WLS, and TSLS.
• C)those estimators that are asymptotically normally distributed.
• D)all estimators of β₁ that are linear functions of X₁,…, X_n and that are unbiased, conditional on X₁,…, X_n.

---

Definitions:

Economic Profit

The gap between the total income a company makes and all of its expenses, covering both direct and indirect costs.

Optimal Output

The level of production that maximizes a firm's profits, where marginal revenue equals marginal cost.

Economic Profit

The contrast between a corporation's entire earnings and its full expenses, including both tangible and intangible costs.

Average Variable Cost

entails the calculation of the unit cost for variable expenses associated with production, adjusted for changes in output levels, providing insight into economies of scale.