Many spouses complain that their partners tend to "let themselves go" after getting married. This is an example of
a. Moral hazard
b. Adverse selection
c. Terrible husbands
d. None of the above
a
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In the above table, if the firm sells 5 units of output, its total revenue is
A) $15. B) $30. C) $75. D) $90.
The above figures show the market for oranges. Which figure shows the effect of changing consumer preferences for more orange juice and less coffee in the morning?
A) Figure A B) Figure B C) Figure C D) Figure D
Which of the following is a good indicator of short-term interest rates in international markets?
A) prime rate B) Treasury bill rate C) LIBOR D) Federal funds rate E) none of the above
Individual price discrimination is used when
A) firms are dealing with individual consumers, such as in a line at the coffee shop. B) firms cannot easily determine consumers' reservation prices. C) firms are selling to non-local buyers. D) salespeople are in a difficult industry, such as auto sales.