Daily fantasy has its roots in
A. rotisserie baseball.
B. boxing.
C. March Madness (NCAA basketball).
D. UFC.
Answer: A
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Price cap regulation involves
A) setting the monopoly's price equal to its average total cost. B) setting the monopoly's price equal to its profit-maximizing price. C) setting a maximum price the monopoly may charge. D) assuming a natural monopoly will not charge a higher than profit-maximizing price. E) setting the monopoly's price equal to its marginal cost.
"If the marginal product of labor curve slopes downward, then the average product of labor curve necessarily must slope downward." Explain whether the previous statement is correct or incorrect?
What will be an ideal response?
If the federal government decreases its spending and doesn't decrease taxes, the bond supply shifts to the
A) left and the equilibrium interest rate rises. B) left and the equilibrium interest rate falls. C) right and the equilibrium interest rate rises. D) right and the equilibrium interest rate falls.
Rational ignorance is
A) a result of our educational system. B) the curtain, or wall, of knowledge between the persons that are educated and those that are not. C) the curtain behind which people choose to hide to avoid knowledge about poverty and, in general, the unequal distribution of income. D) the curtain separating educated voters from uneducated voters. E) none of the above