Most people buy insurance because they
a. are risk lovers
b. enjoy the gamble
c. are risk neutral
d. are risk averse
d
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According to Hughes and Cain (2011), after the Civil War (1861–1865) the freed slaves were
(a) left to fend for themselves without property, money or skills. (b) provided with 40 acres and a mule to get a start in life as free people. (c) provided with some monetary compensation for the centuries-long oppression and exploitation they and their ancestors had faced. (d) able to quickly become successful farmers and craftsmen.
All of the following are methods of rationing goods EXCEPT
A) political power. B) the profit motive. C) first come, first served. D) prices.
Which of the following statements is correct?
a. If marginal cost is rising, then average total cost is rising. b. If marginal cost is rising, then average variable cost is rising. c. If average variable cost is rising, then marginal cost is minimized. d. If average total cost is rising, then marginal cost is greater than average total cost.
Search costs can lead to different prices for the same product
Indicate whether the statement is true or false