Which of the following is a possible reason for governments to regulate business operations?
a. To increase monopoly profits
b. To reduce the amount of information consumers have about a product
c. To increase negative externalities
d. To promote competitive behavior
e. To decrease positive externalities
d
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Refer to Figure 7-2. Marginal private benefit is represented by which curve?
A) D2 B) Supply C) D1 D) All of the above represent marginal private benefit.
In an efficient market with rational expectations, the actual price of an asset
A) will equal its expected price. B) will often be below its expected price. C) will often be above its expected price. D) equals its expected price plus a random error term.
Total surplus in a market is equal to
a. value to buyers - amount paid by buyers. b. amount received by sellers - costs of sellers. c. value to buyers - costs of sellers. d. amount received by sellers - amount paid by buyers.
Analyzing healthcare costs in the United States is interesting because
A. other industrialized countries spend less and get better outcomes. B. the opportunity costs of healthcare appear to be too high. C. the healthcare system appears to be wasting resources. D. All of the above