Employers may discriminate against minority workers because they don't want to offend white employees or customers
Indicate whether the statement is true or false
T
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The price elasticity of demand is a measure of
A) the equilibrium price of a product. B) buyers' responsiveness to changes in the price of a product. C) the amount of a product purchased when income increases. D) whether a product is a substitute or a complement. E) how much a change in demand affects the equilibrium price.
According to your text, controversies about negative externalities are almost always conflicts between the legitimate expectations of citizens and the
A) desire of individuals for greater profits. B) desire of politicians to be reelected. C) legitimate expectations of other citizens. D) mindless urge for more material goods. E) strident demands of environmentalists.
Which of the following is an example of a natural monopoly?
a. A local electricity supplier. b. A dry cleaner in New York City. c. An aircraft manufacturer. d. A pharmaceutical company that holds a patent on a new drug.
In general, risk-averse individuals experience diminishing marginal utility from income.
Answer the following statement true (T) or false (F)