Higher deductibles for employer-provided health insurance will tend to shift the ________ curve for medical services to the ________
A) demand; left
B) demand; right
C) supply; left
D) supply; right
Answer: A
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The higher are a firm's risk-corrected returns,
A) the lower are its labor costs. B) the higher are its opportunity costs. C) the more advantage it has in obtaining investor financing. D) the more difficulty it will have financing its expansion plans.
Adverse selection occurs in the used car market because:
A. the seller has more information than the buyer. B. the buyer has more information than the seller. C. both the buyer and the seller have incomplete information. D. Any of these could be the cause of adverse selection in the used car market.
A sudden fall in the market demand in a competitive industry leads to
a. A short run market equilibrium price higher than the original equilibrium b. A market equilibrium price higher than the short run price c. New firms entering the market d. All of the above
As Reba consumes four slices of pizza, her total utility rises from 0 to 18, to 24, to 28, and to 30, respectively. What is her marginal utility of the first slice of pizza?
a. 18 b. 24 c. 2 d. 7 e. 8