Which of the following parties is likely to have the most information about the health of an individual who is trying to purchase health insurance?
A) the individual who is trying to purchase the policy
B) the employer of the individual
C) the health insurance company
D) All parties in the health insurance market have access to the same amount of information.
A
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The demand for Healthy Bars, a health snack bar, is Qd = 10 - (2 × P) and Healthy Bars has a constant average cost of $3 per snack bar. If Healthy Bars wants to package their bars to create an all-or-nothing offer, what is the profit-maximizing number of bars to put into a package?
A) 2 B) 4 C) 10 D) 6
If retailers' marginal cost from providing product-specific services for a new smart television is $50, if retailers offer the product-specific services for the television, the market ________ will ________.
A) supply; parallel shift to the left by $50 B) supply; parallel shift to the right by $50 C) demand; not shift D) demand; parallel shift to the left by $50
Shoe-a-holic Cathy started her own line of custom made, hand embellished wedding shoes. She opened up her own shop paid $2500 in fixed licensing fee. She used about $3000 in raw materials and made $3500 . At the end of the first month, Carly, her sister
looked at her financials and told her that she was losing money and should shut down. Cathy is heartbroken. As an economics guru, what would you advise her to do?
If the income effect outweighs the price effect of a wage increase, the quantity of labor supplied will:
A. increase. B. decrease. C. remain constant. D. drop to zero.