Answer the following statement(s) true (T) or false (F)
1. Actuarial risks are based on factual data.
2. A reference dose (RfD) measures the daily exposure to some contaminantthat can be tolerated over a person’s lifetime.
3. According to the textbook application on the ecological risks associated with climate change, all such risks are known with certainty.
4. The EPA has developed the same guidelines for assessing both human health risks and ecological risks.
5. In an ecological risk assessment, the step in which the ecological entity that is potentially at risk is identified is called the analysis phase.
1. True
2. True
3. False
4. False
5. False
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Ronny's Pizza House is a profit maximizing firm in a perfectly competitive local restaurant market, and their optimal output is 80 pizzas per day. The local government imposes a new tax of $250 per year on all restaurants that operate in the city
How does this affect Ronny's profit maximizing decisions? A) No impact on the restaurant's decisions B) Ronny's will remain in business but will definitely produce less pizza C) Ronny's will definitely shut down D) Ronny's decision depends on the circumstances -- if their profits are larger than $250 per year, then the tax does not impact output; otherwise, Ronny's Pizza House will shut down.
Entry into a monopolistic competitive industry
A) is easy. B) is hard. C) requires governmental approval. D) requires collusion.
Which of the following is true about games in which people have different information?
A. The behavior of the participants in the game reveals little to no information. B. Participants in these games can sometimes have an incentive to mislead others through their behavior. C. Participants in these games always act in a way contrary to his immediate interests. D. These games never have a Nash equilibrium.
The market demand for labor is
A. steeper than the horizontal summation of the individual demand curves. B. as steep as the horizontal summation of the individual demand curves. C. less steep than the individual demand curves. D. less steep than the horizontal summation of the individual demand curves.