Figure 11-1
The Red Cross is virtually the only operator of blood banks in the United States. In Figure 11-1 are the demand and supply curves facing the Red Cross blood bank. If it were to operate like a profit-maximizing business, how many units of blood would it sell?
A. OA
B. OB
C. OC
D. OD
Answer: A
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List and describe two issues regarding incentives and information that explain why the median voter model might not accurately describe democratic decision-making
What will be an ideal response?
Which of the following would most likely occur if the federal government decreased its spending and reduced the size of the budget deficit during a period of full employment?
a. The rate of inflation would decline. b. The rate of inflation would rise. c. A recession would develop. d. Interest rates would fall.
An example of a good that is nonrival in consumption is:
A. a campsite at Yellowstone National Park. B. a ticket to an Omnimax movie at the Smithsonian. C. the Lincoln Memorial in Washington, D.C. D. All of these are nonrival in consumption.
Firms under-invest in safety because
A) firms are not concerned with safety. B) firms do not want their plants to be safe. C) firms are risk averse. D) firms do not enjoy all of the benefits from investments in safety.