Which of the following illustrates adverse selection?
a. Individuals sometimes mistakenly buy defective cameras.
b. Individuals will not search for bargains for low cost items.
c. Individuals know a lot about their family health history when they buy insurance.
d. Individuals can choose whether to drive safely or not.
c
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Indicate whether the statement is true or false
In a graph of a typical firm's AFC, ATC, and AVC curves, the
A) AVC curve lies above the ATC curve. B) ATC curve lies below the AFC curve. C) distance between the ATC curve and the AVC curve equals the AFC. D) distance between the AVC curve and the AFC curve equals the ATC. E) AVC curve crosses the MC curve at the point where the MC is at its minimum.
Currently, which country emits the largest amount of carbon dioxide (CO2)?
a. United States b. United Kingdom c. China d. Russia
The term "double coincidence of wants" is necessary for _________ to take place.
Fill in the blank(s) with the appropriate word(s).