Medical research helps to develop better treatments for neuromuscular disease. Medical researchers are constantly in search of funds. Many in the public, however, are unwilling to contribute money toward neuromuscular disease research until a member of their own family suffers from a neuromuscular ailment. If left strictly to the private market, it is likely that there will be:
a. an
overallocation of resources to neuromuscular disease research, relative to the efficient level.
b. an underallocation of resources to neuromuscular disease research, relative to the efficient level.
c. an efficient quantity of resources devoted to neuromuscular disease research.
d. an efficient quantity of resources devoted to neuromuscular disease research.
b
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Options on individual stocks are not listed on the
A) New York Stock Exchange. B) American Stock Exchange. C) Nasdaq. D) Pacific Stock Exchange.
When a producer's demand curve is a horizontal straight line, we know that
a. market demand is horizontal as well b. there is considerable brand loyalty for the producer's good c. the producer is a monopolist d. the producer has significant market share e. the producer is in a perfectly competitive industry
Rent control is a price _____.
Fill in the blank(s) with the appropriate word(s).
The debt participants, the lenders, hold claims to the _____________ on borrowed funds that are secured by individuals, businesses and property.
Fill in the blank(s) with the appropriate word(s).