When total input costs rise slower than the total units of output produced, then the per-unit production costs:
A. Will decrease
B. Will increase
C. Would be unaffected
D. May either increase or decrease
A. Will decrease
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The slope of a curve measures
A) only the change in the horizontal variable. B) the length of the curve. C) only the change in the vertical variable. D) the change in one variable in response to the change in the other variable.
An important implication of the idea that markets are efficient is that
A) an investor can make money by buying undervalued stocks and selling overvalued ones. B) the price of a share immediately incorporates new publicly available information that affects its value. C) dealers can ignore some new information on a share that affects its value. D) an investor can make above average returns in the stock market by doing careful research of public information about selected stocks.
Government imposed price controls often lead to
A) illegal trades of the good. B) the most efficient use of resources. C) the equilibrium solution in terms of price and quantity. D) maximization of profits.
Individuals who are more risk averse
a. buy less insurance b. buy more insurance c. are not more or less inclined to buy insurance d. are philosophically opposed to insurance