Economists believe that scarcity forces everyone to
a. satisfy all their wants
b. abandon consumer sovereignty
c. limit wants
d. create unlimited resources
e. make choices
E
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How is economic profit calculated?
What will be an ideal response?
Games:
A. only have one possible stable outcome. B. may have noncooperative equilibriums that are positive-positive outcomes. C. must have a dominant strategy present in order to reach an equilibrium. D. None of these statements is true.
Explicit revenue minus explicit measurable costs equals:
A. normal profit. B. economic profit. C. average profit. D. accounting profit.
Which of the following statements is true?
A. Most Medicaid beneficiaries are in HMO plans. B. Most Medicare Advantage beneficiaries are in HMO plans. C. Only about a quarter of employer-sponsored plan beneficiaries are in HMO plans. D. All of the above