Refer to the graph below for a profit-maximizing monopolist. The firm will set its price at:
A. 0J
B. 0G
C. 0K
D. 0H
A. 0J
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The cost of group health insurance is generally lower than if a person buys an individual policy because
A) it is easier for an insurance company to deny claims from a group policy. B) the problem of adverse selection is reduced. C) insuring a group of people eliminates the problem of policy holders having more information than the insurance company. D) this eliminates the problem of moral hazard.
Which of the following move the handling of a common property resource closest to efficiency?
A) ensuring that the sellers of the resource are perfectly competitive B) ensuring that the seller of the resource is a monopolist C) banning the sale of the resource D) banning the use of the resource E) assigning a usage fee for access to the resource
From the early 1860s to the early 1900s, the amount of land acquired by sales (including from railroads and states) was _____ land obtained free through homesteading
a. roughly half as much as b. about the same as c. twice as much as d. triple the amount of
To avoid counting the same output more than once, the calculation of GDP includes
A. Only the output produced by U.S. factors of production. B. The value added at each stage of production plus intermediate goods. C. Intermediate goods plus final goods. D. Only the value of final goods.