The idea that some people engage in risky behavior due to the fact that they have good health care is known as
A) moral hazard.
B) risk aversion.
C) zero-sum game.
D) risk-taking behavior.
A
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Suppose in the ice-cream market with 10 firms, the elasticity of market demand is -1, and each firm has a constant marginal cost at $2. The Nash-Cournot equilibrium price is
A) $2. B) $2.2. C) $2.4. D) $2.5.
Supplier power tends to be high when
a. your firm purchases critical inputs from the supplier b. your input choices are highly differentiated c. Both A&B d. None of the above
In addition to tax payments, the two other primary costs that a tax system inevitably imposes on taxpayers are
a. deadweight losses and administrative burdens. b. deadweight losses and frustration with the political system. c. administrative burdens and tax-preparation costs. d. administrative burdens and the risk of punishment for failure to comply with tax laws.
Suppose that the table shown shows the demand and supply schedules for pork bellies. Based on the table, the equilibrium price of pork bellies is:Price($/lb.)Quantity demanded (lbs.)Quantity Supplied (lbs.)$0.1030,0005,000$0.2025,00010,000$0.5020,00020,000$0.7515,00030,000$0.955,00040,000
A. $0.75/lb. B. $0.25/lb. C. $0.50/lb. D. $0.10/lb.