The average product of agents in an insurance company is currently 5 policies written per month. If the company employs 428 agents, it's writing
a. 428 policies per month.
b. 2,140 policies per month.
c. 2,508 policies per month.
d. 3,509 policies per month.
b. 2,140 policies per month.
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A production possibilities frontier that is a bowed-inward line implies
A) economies of scale. B) diseconomies of scope. C) economies of scope. D) no economies of scope.
Potential problems with incentive based compensation are
a. not evaluating the relevant performance measures b. rewarding outcomes that are not include in the performance evaluation c. not funding rewards for meeting performance measures d. all of the above
When the price of a good is measured in dollars, then the size of the deadweight loss that results from taxing that good is measured in
a. units of the good that is being taxed. b. units of a related good that is not being taxed. c. dollars. d. percentage change.
The price mechanism deals _____ with the issue of an equitable income distribution and ____ with the issue of efficiency.
A. well; well B. poorly; poorly C. well; poorly D. poorly; well