The above figure represents the market for cable television in Oakland, Florida. Time Warner Communications (TWC) is the sole provider of cable television to the residents of this Central Florida community
If TWC operated under a marginal cost pricing rule, how many households in Oakland are served? A) 20,000
B) 30,000
C) 40,000
D) 50,000
E) 10,000
C
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That most used cars are sold by intermediaries (i.e., used car dealers) provides evidence that these intermediaries
A) have been afforded special government treatment, since used car dealers do not provide information that is valued by consumers of used cars. B) are able to prevent potential competitors from free-riding off the information that they provide. C) have failed to solve adverse selection problems in this market because "lemons" continue to be traded. D) have solved the moral hazard problem by providing valuable information to their customers.
Figure 7-8
Of the graphs in Figure 7-8, which represents total cost?
A. 1 B. 2 C. 3 D. 4
An individual bank can create deposits to the extent of its
A. excess reserves. B. required reserves. C. total reserves. D. deposits.
Which of the following is not a concern about nudge policies?
A. It is unclear that government knows best. B. Designing helpful policies is complicated. C. Nudge policy is not strong enough to have much of an effect. D. Very few policies meet the criterion of libertarian paternalism.