When applying the marginal principle, you should pick the level at which the activity's marginal benefit equals its marginal cost.
Answer the following statement true (T) or false (F)
True
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All games have which features?
A) prices, rules, and payoffs B) rules, markets, and prices C) rules, strategies, and payoffs D) rules, strategies, and costs E) equilibrium, prices, and quantities
The following is not an example of adverse selection
a. you lock your garage when you have expensive workshop tools b. you are less careful when you buy a more expensive car c. Individuals tend to gamble more with their money when the future is certain d. you only go swimming when the lifeguard is on duty
According to the search model, a computerized used car search service should
a. reduce the amount of search b. not affect the amount of search c. increase price dispersion d. reduce price dispersion e. lower the marginal benefit of search
Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4According to Figure 2.4, Point F
A. is efficient and attainable. B. cannot be produced with the current state of technology. C. represents underallocation of resources. D. represents what the people want.