If the current margin is greater than the desired margin,
a. MR=MC
b. MR>MC
c. MR
b
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Insurers try to minimize moral hazard by
a. only selling policies to individuals with high ethical standards. b. requiring advance payments of premiums. c. charging higher premiums to individuals than to groups. d. charging deductibles and coinsurance. e. refusing to sell insurance to individuals with chronic illnesses.
When sellers have better information about product quality than do buyers, lower-quality products tend to become more common in the market
a. True b. False
Peter Schran plays no favorites. It's one price for all customers. Under this circumstance, we know that
a. MR = MC b. P = MC c. TR = TC d. P = AR e. P = TR
Which term means legislative spending that benefits a single political district?
a. Budget trading b. Vote cycling c. Logrolling d. Pork-barrel spending