Prescription drug prices increased in 2006 due to?
a. manufacturer price increases
b. wholesaler price increases
c. implementation of the Medicare Part D plans
d. a spike in illnesses in 2006
Ans: c. implementation of the Medicare Part D plans
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You can invest $100,000 into either project A or B. You estimate that A would succeed with a probability of 0.7 in which case it doubles in value. If it fails, its scrap value is $50,000 . Project B would succeed with probability 0.6, in which case it would have a value of $150,000 . If it fails, project B's scrap value is $30,000 . Which project should you invest in?
a. Project A b. Project B c. Neither of the projects d. You cannot tell from the information presented
If an economist finds that when consumer incomes increase, consumers buy more cars, Ceteris paribus, then the economist is assuming
A. the price of cars must be decreasing. B. all other things remain constant. C. the price of gas must be decreasing. D. the interest rate on car loans must be decreasing.
What is the marginal rate of substitution and how does it relate to an indifference curve?
What will be an ideal response?
Refer to the above figure. The firm is operating using MRP0. An increase in productivity has occurred. The relevant curve for the firm after the increase in productivity
A) is MRP0. B) is MRP1. C) is MRP2. D) could be MRP1 or MRP2 depending upon whether the firm was earning a positive profit.