Refer to the information provided in Figure 17.1 below to answer the question(s) that follow. 
Figure 17.1 Refer to Figure 17.1. We would say that Dmitri is risk averse based on his
A. income potential.
B. present income.
C. utility from income.
D. past income.
Answer: C
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Of the following, the best example of oligopoly is
A) wheat farming. B) the restaurant industry. C) the cigarette industry. D) the clothing industry.
Refer to Figure 6-6. As price falls from PA to PB, the quantity demanded increases most along D1; therefore
A) D1 is more elastic than D2 or D3 B) D1 is more inelastic than D2 or D3. C) D1 is elastic at PA but inelastic at PB. D) D1 is unit elastic.
A natural monopoly usually arises when
A) there are diseconomies of scale in an industry. B) the government allows unrestricted access to a market. C) there are large economies of scale relative to the industry's demand. D) companies band together to form a larger company.
Which of the following explains the impact of technological advances on the wage gap between less skilled workers and highly skilled workers?
A. Advances in technology have increased the demand for higher education degrees and widened the wage gap between the two groups. B. Advances in technology have increased the productivity of less skilled workers and thus narrowed the wage gap between the two groups. C. Advances in technology have increased the demand for less skilled workers and highly skilled workers alike, and thus the wage gap between the two groups remains unchanged. D. None of these