An analysis approach that considers the relationship of a proposed policy to social objectives is called ...
a. Contingent valuation
b. Cost-effectiveness analysis
c. Hedonic pricing
d. Positional analysis
e. Risk aversion
Ans: d. Positional analysis
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Inward-oriented policies
a. are generally supported by economists. b. are primarily concerned with the development of human capital. c. in some ways are like prohibiting the use of certain technologies. d. All of the above are correct.
This table represents the revenues faced by a monopolist. PriceQuantity SoldTotal RevenueAverage RevenueMarginal Revenue$1,0001$1,000 $9002$1,800 $8003$2,400 $7004$2,800 $6005$3,000 $5006$3,000 $4007$2,800 Using the information in the table shown, the marginal revenue of the 6th unit is:
A. $0 B. $500. C. -$200 D. $3,000.
Governments have to rely on taxes for financing because
A) they cannot borrow unlimited amounts. B) they usually spend all of the gold reserves. C) it is easier to collect taxes than to print money. D) they are not allowed to sell bonds.
Refer to the table below for a monopolist. A non-discriminating monopolist would maximize profits at a price and quantity of:
The following question is based on the demand and cost data for a pure monopolist given in the table below.
A. $250 and 2 units
B. $200 and 3 units
C. $150 and 4 units
D. $100 and 5 units