People in the U.S. will rarely pay a great deal per gallon to obtain water because
A) there are so many excellent substitutes for water.
B) there is no relationship between objective price and subjective value.
C) they are usually creatures of habit.
D) they think water, as a basic necessity, ought to be supplied at a very low price.
E) they place a very low marginal value on water.
E
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The closer a market's Herfindahl-Hirschman Index (HHI) is to ________ the more competitive the market, which means there are ________ firms in the market.
A) 10,000; few B) 10,000; many C) 100; many D) 100; few
Market-oriented approaches to pollution control are more commonly used when the cost of controlling pollution is easily known by governments and is equal for all firms in the industry
a. True b. False Indicate whether the statement is true or false
If an increase in disposable income causes consumption to increase from $4,000 to $10,000 and causes saving to increase from $1,000 to $5,000, then it can be inferred that the MPS equals
A. 0.40. B. 0.05. C. 0.60. D. -0.60.
Suppose a plant has 1000 employees, half of whom are from a minority population. Suppose further that, in order to cut costs, a manager must layoff 100 employees. If she chooses only non-minority workers to lay off, because an analysis of productivity data suggests they are, on average, 5% less efficient then she is
A. using statistical discrimination and it is illegal. B. on perfectly sound legal ground. C. using statistical discrimination and it is legal. D. using inferential discrimination and it is illegal.