You own an ice cream store and are concerned that an employee may be giving generous scoops to friends and relatives and smaller scoops to some other customers. This is an example of
a. a moral hazard problem.
b. adverse selection.
c. behavioral economics.
d. signaling.
a
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Refer to the information below. What is slope of the demand curve?
A small nation has three gasoline suppliers with a linear monthly market demand equal to: Q = 500,000 - 5P. Each firm's marginal cost (MC) and average total cost (ATC) curves are horizontal at $10,000 per month. A) 0.20 B) -0.20 C) -5 D) 5
__________________ —a term referring to the activities that businesses can perform to take advantage of economies of scale.
a. Scarcity b. Division of labor c. Core competency d. Specialization
Economists use the term ______ to refer to the ability to produce a good using fewer inputs than another producer
Fill in the blank(s) with correct word
A supply curve that is upward sloping means that:
A) demand is being ignored. B) consumers will buy less at lower prices. C) suppliers will want to sell more at higher prices. D) suppliers will want to sell less at higher prices.