In the Quadratic Regression Model Y = $\beta$ ₀ $\beta$ ₁x

question 97

Multiple Choice

In the quadratic regression model y = $\beta$ ₀ + $\beta$ ₁x + $\beta$ ₂x² + $\varepsilon$ ,if the term $\beta$ ₂ is greater than zero,then the parabola opens __________.

• A)Up
• B)Down
• C)To the left
• D)To the right

---

Definitions:

Policymakers

Individuals or groups responsible for making decisions in government that influence laws, regulations, and policies.

Monopoly

A market structure characterized by a single seller, selling a unique product in the market.

Deadweight Loss

A reduction in economic efficiency that happens when the balance for a product or service cannot be reached or is impossible to achieve.

Profit-maximizing Monopoly Pricing

Profit-maximizing monopoly pricing is a strategy where a monopolist sets a price at the highest possible level that does not allow new entrants, maximizing its profit.