While you and your roommate are eating your nightly Hamburger Helper meal, your roommate says "I'll never eat Hamburger Helper again once I graduate and start making some real money!" In your roommate's eyes, Hamburger Helper is currently
A) a normal good.
B) an inferior good.
C) a bad.
D) a waste of his money.
B
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One of the major benefits to society of monopolistic competition is
A) high prices. B) restricted output. C) product differentiation. D) the excess capacity. E) the marku
Which of the following is NOT a reason for the government to regulate a nonmonopolistic industry?
A) to allow firms to achieve the profit maximizing output B) asymmetric information C) to protect consumer interests D) market failures
When marginal cost exceeds the average variable cost, average variable cost must be increasing
a. True b. False Indicate whether the statement is true or false
Exhibit 12-1 Income distribution for three countries QuintileCountry I (%) Country II (%) Country III (%) Poorest 6 8 4 Second12 12 8 Third15 15 10 Fourth27 30 30 Richest40 35 48 Exhibit 12-1 shows the percentage of income received by each population quintile. From this chart we can conclude:
A. Country I has the most unequal income distribution. B. Country III has a more equal income distribution than Country II. C. Country II has the most unequal income distribution. D. Country II has the most equal income distribution.