Prior to health care reform, young people would pay approximately ____ of the premium it would cost an elderly person
a. 1/6
b. 1/2
c. 2/3
d. 4/5
b
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Suppose Always There Wireless serves 100 high-demand wireless consumers, who each have a monthly demand curve for wireless minutes of QdH = 200 - 100P, and 300 low-demand consumers, who each have a monthly demand curve for wireless minutes of QdL = 100 - 100P, where P is the per-minute price in dollars. The marginal cost is $0.25 per minute. Suppose Always There Wireless charges $0.35 per minute. If Always There Wireless charges the highest fixed fee that it can without losing the low-demand consumers, what is Always There Wireless's profit from sales for each low-demand consumer?
A. $27.63 B. $37.63 C. $21.13 D. $28.13
When a firm shuns other suppliers and chooses to produce an input internally.
A. Contracts B. Spot exchange C. Vertical integration D. Horizontal integration
Which of the following will not shift the demand curve for grapefruit to the right?
A. An announcement that eating a grapefruit before every meal will induce weight loss. B. A technical development that allows machines to replace the workers who harvest grapefruit. C. The price of oranges, a substitute good, increases. D. Consumer incomes increase and grapefruit is a normal good.
Which of the following illustrates a macroeconomic question?
A. What is the least costly way to produce automobiles and trucks in the United States? B. Should the salaries of financial executives be regulated by the government? C. Will the introduction of a new computer chip change the demand for computers? D. Are increasing wage demands by workers contributing to price inflation?