Variable costs vary with ________________.
Fill in the blank(s) with the appropriate word(s).
output
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Robert applied for health insurance but did not mention in the application form that his family has a history of heart ailments that are considered to be hereditary. What will happen if several customers like Robert purchase the insurance?
What will be an ideal response?
The above table shows the marginal benefit from submarines for the only two citizens of a country. Submarines are a public good. If submarines cost $175 a piece to produce, what is the efficient quantity of submarines?
A) 0 B) 1 C) 2 D) 3
The profit-maximizing rate of output in Figure 24.1 is
A. F. B. I. C. H. D. E.
In the Keynesian model, planned investment is inversely related to
A) the interest rate. B) the level of income. C) the wage rate. D) the tax rate.