In order to prove that Motrin and Ibuprofen are substitutes, one should measure the ________ and get a ________
A) price elasticity of demand; number greater than 1 (in absolute value)
B) cross-price elasticity; positive number
C) cross-price elasticity; negative number
D) price elasticity of demand; number less than 1 (in absolute value)
B
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When a person has health insurance, they often have to pay nothing or very little (called a "copay") to see a doctor. This might result in
A) their being overly healthy. B) a principal-agent problem. C) some moral hazard, since people might overuse the benefit. D) an adverse selection problem.
What does the firm experience when workers are hired after the point at which supply and demand meet?
a. Marginal revenue product rises. b. Marginal productivity increases. c. Variable costs of labor are reduced. d. Additional workers are unprofitable.
Refer to the figure below. Private markets will provide ________ units of this good per day, and the socially optimal number of units per day is ________. 
A. H; G B. G; F C. F; G D. H; F
Higher resource prices shift the...
What will be an ideal response?