What is true of marginal cost when marginal returns are decreasing?
a. It is negative and increasing.
b. It is negative and decreasing.
c. It is positive and increasing.
d. It is positive and decreasing.
e. It is positive and has a constant slope.
C
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Which of the following represent examples of adverse selection?
A) Unhealthy people are more likely to want health insurance. B) Careless drivers purchasing extra auto insurance. C) Risk averse individuals choosing to buy extra insurance. D) all of the above E) A and B only
What is the long-run effect on the demand curve of a monopolistically competitive firm when more firms enter the market?
a. Demand curve shifts to left. b. Demand curve remains the same. c. Demand curve shifts to right. d. Demand curve become flatter.
Government corruption
a. impedes the coordinating power of markets and discourages investment. b. impedes the coordinating power of markets but does not discourage investment. c. does not impede the coordinating power of markets, but does discourage investment. d. can neither impede the coordinating power of markets nor discourage investment.
The intersection of the x axis and the y axis is called the
A) "meeting point." B) origin. C) "zero" point. D) corresponding point.