A person who is risk-neutral will
A) pay a small risk premium when making a choice.
B) pick a slightly less risky option with a slightly lower expected value.
C) pick the option with the highest expected value.
D) None of the above.
C
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Refer to Variable Cost of Production. The marginal cost of the fourth unit of output is
The following questions refer to the following table which shows a firm's variable costs of production.
a. $20 per unit.
b. $30 per unit.
c. $50 per unit.
d. $80 per unit.
A firm that conducts business all over the world is called a(n)
A. multinational corporation. B. international conglomerate. C. competitive corporation. D. government-owned business.
If Brian, age 24, had no job but was available for work and had looked for a job the week before the survey, Brian is classified in the Current Population Survey as
A) unemployed. B) a discouraged worker. C) not in the labor force. D) employed. E) not in the working-age population.
Which of the following transactions takes place in factor markets?
A) Henry receives a commission from his employer for selling a new automobile. B) Jake purchases 1,000 shares of stock in the Wal-Mart Corporation through his online trading account. C) Sam enters the winning bid on a grand piano at a local auction. D) Justin receives $30 in exchange for mowing his neighbor's lawn. E) Lucille receives a $500 check from the U.S. Social Security Administration.