Government payment of a per-unit subsidy for health care services causes the out-of-pocket price that consumers pay for care to be
A) less than the price that health care providers receive for providing care.
B) greater than the price that health care providers receive for providing care.
C) greater than the market clearing price without the subsidy.
D) equal to zero.
Answer: A
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The supplier of your ________ is most likely a monopoly
A) shoes B) toothpaste C) textbooks D) home electricity
Jamal maximizes utility by allocating his time among leisure, market work, and household work so that
a. expected marginal utility is equal among all three b. expected total utility per hour is equal among all three c. expected marginal utility per hour is equal among all three d. the maximum amount of goods and services can be acquired e. expected total utility of each use is equal
A roller coaster operator produces thrill-packed rides using electricity and a roller coaster. For the roller coaster operator, electricity is
a. an opportunity cost. b. a variable cost. c. a fixed cost. d. a sunk cost.
Which of the following statements is not correct?
a. Two examples of early antitrust laws are the Sherman and Clayton Antitrust Acts. b. Antitrust laws automatically prevent mergers between companies that produce similar products. c. Antitrust laws give the government power to increase competition. d. Antitrust laws can reduce social welfare if they prevent mergers that would lower costs through more efficient joint production.