We say there is productive inefficiency in saving lives if
a. there is some way to save more lives
b. there is some way to save more lives without sacrificing any other goods or services
c. all resources are devoted to saving lives
d. no resources are devoted to saving lives
e. anyone dies before reaching his or her life expectancy
B
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The above table shows Priscilla's marginal utility from the two goods she consumes, pizza and Pepsi. The price of a slice of pizza is $2 and of a can of Pepsi is $1. Suppose Priscilla has $6 to spend
Which combination of pizza and Pepsi will maximize Priscilla's utility? A) 3 slices of pizza B) 2 slices of pizza and 2 cans of Pepsi C) 3 cans of Pepsi and 1 slice of pizza D) 1 slice of pizza and 3 cans of Pepsi
Using the Gordon growth model, if D1 is $.50, ke is 7%, and g is 5%, then the present value of the stock is
A) $2.50. B) $25. C) $50. D) $46.73.
Those who support advertising claim that advertisements focus on what ______.
a. producers want to sell consumers b. consumers want c. the government wants consumers to have d. resource distributors want
An important difference between a perfectly competitive firm and a monopolist is
A) the size of the firms. B) the shape of the demand curve each faces. C) the goals of the owners of the firms. D) a monopolist normally produces a service, while a perfect competitor normally produces a good.