For social cooperation to be promoted, an effective system of property rights will be one in which people
A) behave cautiously and considerately because their rights are not clear.
B) enjoy most rights in common with all other members of the society.
C) know exactly what their rights are and don't expect them to change significantly.
D) know their rights are always dependent upon continuing majority approval.
E) realize the rules of the game can change at any moment.
C
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If the total revenue received by sellers of DVDs increases by 20 percent when price increases by 10 percent, then demand for DVDs is
A) perfectly elastic. B) unitary elastic. C) inelastic. D) elastic.
A government-inhibited good is a good which
A) is not subject to the principle of mutual exclusivity. B) the political process has deemed socially undesirable. C) can be consumed by one individual without affecting the consumption of another individual. D) the political process has deemed socially desirable.
Statistical discrimination is legal under the disparate impact standard but illegal under the treatment standard
a. True b. False Indicate whether the statement is true or false
If the company can correctly anticipate the adverse selection, what premiums would it charge??
a. $2500
b. $2600
c. $1000
d. $1100