The provision of the Patient Protection and Affordable Care Act (ACA) which states that, with limited exceptions, every resident of the United States must have health insurance that meets certain basic requirements is the ________ provision
A) regulation of health insurance B) state health insurance marketplaces
C) individual mandate D) employer mandate
C
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According to the shutdown rule, a firm should produce no output in the short run if
A) price is below minimum average total cost. B) price is above minimum average total cost. C) total revenues are lower than total fixed costs. D) price is below minimum average variable costs.
To reduce Agency problems, executive compensation should be designed to
a. be paid baased on quarterly sales b. create incentives so that managers act like owners of the firm c. avoid making the executives own shares in the company d. be an increasing function of the firm's expenses e. all of the above
Which of the following best explains the source of consumer surplus for Good A? a. Many consumers pay prices that are greater than the equilibrium price of Good A
b. Many consumers would be willing to pay more than the market price for some units of Good A. c. Many consumers think the market price of Good A is greater than its cost. d. Many consumers of Good A place a value on it that is less than the market price.
The monopolist's demand curve is identical to
a. the monopolistic competitor's demand curve b. the industry demand curve c. a horizontal line that represents a constant price across the production range d. mutual interdependence e. a collection of firms producing the same good