In risk characterization, the quantitative component
a. can be presented asa probability
b. might include a reference dose (RfD) to communicate non-carcinogenic health risks
c. can be based on inferences instead of actual data
d. all of the above
d. all of the above
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Each of the four firms in an industry has a market share of 25 percent. The Herfindahl-Hirschman Index equals
A) 3,600. B) 100. C) 625. D) 25. E) 2,500.
The general rule for benefit maximization suggests that in personal equilibrium:
A) the ratio of total benefits to price should be identical across all goods. B) the ratio of total benefits to income should be identical across all goods. C) the ratio of marginal benefits to price should be identical across all goods. D) the ratio of marginal benefits to income should be identical across all goods.
Critics of advertising argue that advertising by its very nature imposes a cost on society. Explain what these costs are
What will be an ideal response?
Economists hold many positions advising the president and Congress including
a. being a member of the Council of Economic Advisers. b. helping to enforce antitrust laws at the Department of Justice. c. conducting research at the Congressional Budget Office. d. All of these are possible positions that economists hold.