The law of increasing costs is based on each of the following, except
A. the law of scarcity.
B. the law of diminishing returns.
C. diseconomies of scale.
D. factor suitability.
A. the law of scarcity.
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If a firm is price differentiating, then it is
A) producing a homogeneous product. B) charging different prices to different consumers based on differences in marginal costs. C) charging different prices based on quality. D) charging different prices based on advertising costs.
Perfect competition requires that three conditions be satisfied.
Answer the following statement true (T) or false (F)
It is possible to have:
A. moral hazard without adverse selection present in a market. B. adverse selection present in a market without moral hazard. C. both moral hazard and adverse selection present in a market. D. All of these statements are true.
Long term bonds have ________ interest rate risk
Fill in the blank(s) with the appropriate word(s).