Along a downward-sloping, linear demand curve, total revenue is the greatest
A) where demand is unit elastic. B) where demand is normal.
C) where demand is the most elastic. D) where demand is the most inelastic.
A
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In an oligopoly with two firms, one firm's share of the market is 70 percent. The Herfindahl-Hirschman Index is ________
A) 4,900 B) 0.7 C) 5,800 D) 100
An example of moral hazard is
a. people drive as carefully in icy conditions with antilock brakes as without b. people drive as safely with more airbags as without c. football players avoid 'spearing' with their heads even with safer helmets d. people fail to read the medicine warnings more often when self-medicating versus with a doctor's prescription
Invention cannot be successful financially if price is
A. greater than marginal cost because invention is based largely on social costs. B. greater than marginal cost because invention is based solely on external costs. C. equal to marginal cost because invention is based largely on variable costs. D. equal to marginal cost because invention is based largely on fixed costs.
Secondary reserves for banks are:
A. the same as the bank's net worth. B. vault cash. C. deposits the bank has at the Federal Reserve. D. mainly the bank's liquid securities.