Health insurance companies impose deductibles on policies and co-payments on claims
A) to reduce moral hazard problems. B) to increase prices.
C) to increase sales. D) to reduces sunk costs.
A
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The marginal rate of technical substitution of labor for capital (MRTSLK) measures
a. the amount of capital that can replace a unit of labor without affecting the firm's output. b. the additional output attributable to a 1% increase in labor and capital usage. c. the rate at which the firm can exchange labor for capital in the input markets. d. the slope of the firm's expansion path.
The change in a firm's total cost from producing one more unit of a good or service is
A) the definition of marginal product B) the result of economies of scale. C) the definition of marginal cost. D) impossible to observe in large firms with many manufacturing plants.
Refer to Figure 10.2. In moving from the competitive level of output and price to the monopoly level of output and price, the deadweight loss is the area:
A) QmEHQc. B) GEH. C) GFH. D) FEH. E) none of the above
Answer the following statement(s) true (T) or false (F)
1. China’s acid rain problem is relatively minor because it is among the lowest consumers of coal in the world. 2. Stationary source emissions are controlled primarily through the use of technology-based standards. 3. Emissions limits applicable to new and modified stationary sources are known as New Source Performance Standards (NSPS). 4. Emissions limits used for nonattainment areas are more stringent than those used for PSD areas. 5. Technology-based standards used to control new sources are more lenient than those used to control existing stationary sources.