What do markets with prices, dormitory lotteries, and first-come-first-served rules have in common?
A. They were designed by economic engineers.
B. They are nudges.
C. They are coordination mechanisms.
D. They use price incentives.
Answer: C
You might also like to view...
One way to deal with the efficiency problem of monopolies is to tax the profits of monopolists.
Answer the following statement true (T) or false (F)
In the long run, a firm is said to be experiencing decreasing returns to scale if a 10 percent increase in inputs results in
A) an increase in output from 100 to 110. B) a decrease in output from 100 to 90. C) an increase in output from 100 to 105. D) a decrease in output from 100 to 85.
Refer to Scenario 15.4. The present value of the electricity bill savings you will receive over the next 10 years is
A) $200 times 10. B) $200/1.06. C) $200/1.0610. D) $200 (1 + 1/1.06 + 1/1.062 + ... + 1/1.069 ). E) $200 / (1 + 1/1.06 + 1/1.062 + ... + 1/1.069 ).
False advertising ________ likely to be successful with a plush stuffed toy sold at retail stores because the stuffed toys are a(n) ________ good.
A) is; credence B) is; inspection C) is not; inspection D) is not; credence