Relative to a world in which some people are motivated by nonmaterial incentives, if all people were motivated solely by financial incentives, then:
A. there would be no commitment problems.
B. both business transactions and personal interactions would be different.
C. transactions in the business world would be the same, but personal interactions would not.
D. economic efficiency would be achieved more often.
Answer: B
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To answer the following question, please refer to the figure below. Concentrating only at the upper right quadrant, discuss the foreign exchange market equilibrium
What will be an ideal response?
In the classical model, we assume there is no ongoing inflation, so there is no need to distinguish between the nominal interest rate and the real interest rate
a. True b. False
In the Theory of Price, George Stigler points out that a monopolist is no less desirous of profits than a competitive firm. According to Stigler, what distinguishes the monopolist from other entrepreneurs?
a. strategy b. morality c. objective d. market position e. motivation
TFC=Total Fixed CostQ=Quantity of OutputMC=Marginal CostP=Product PriceTVC=Total Variable Cost Refer to the above information. Average total cost is:
A. 
.
B. TVC - MC.
C. 
.
D. 
.