Why might two presidential candidates appear to have very similar opinions during an election year even if they come from different parties?
a. They aim to please special-interest groups.
b. They are logrolling.
c. They try to appeal to the median voter.
d. Republicans and Democrats usually agree on most issues.
e. They don't wish to appear rationally ignorant.
C
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Adverse selection is due to
A) hidden characteristics. B) hidden actions. C) symmetric information. D) moral hazard.
A firm produces 500 units per week. It hires 20 full-time workers (40 hours/week) at an hourly wage of $15 . Raw materials are ordered weekly and they costs $10 for every unit produced. The weekly cost of the rent payment for the factory is $2,250 . How do the overall costs breakdown?
a. total variable cost is $17,000 . total fixed cost is $2,250; total cost is $19,250 b. total variable cost is $5,000 . total fixed cost is $2,250; total cost is $7,250 c. total variable cost is $5,000 . total fixed cost is $14,250; total cost is $19.250 d. total variable cost is $12,000 . total fixed cost is $7,250; total cost is $19,250
Why does monopoly necessarily reduce consumer surplus compared to perfect competition?
What will be an ideal response?
The property of money that allows us to avoid finding a trading partner for all of our goods (bartering) is called the
A. creation of value. B. store of value. C. security of value. D. medium of exchange.