Firms under-invest in safety because
A) firms are not concerned with safety.
B) firms do not want their plants to be safe.
C) firms are risk averse.
D) firms do not enjoy all of the benefits from investments in safety.
D
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In the table above, what inflation rate belongs in space A?
A) 17.0 percent B) 6.8 percent C) 8.3 percent D) -4.0 percent
Credit entries on the Balance of Payments are the entries that would
A) mean a loss of foreign exchange. B) bring foreign exchange into the country. C) indicate a surplus exists. D) exist at the bottom line after all accounts are totaled.
When price equals marginal cost
A) firms make zero profits. B) firms make positive profits. C) the industry is in long-run equilibrium. D) the marginal benefits of consuming an extra unit of the good exactly equals the marginal cost to society of producing the good.
Perfect competition is the term used to describe:
a. an industry in which a few price-taking firms produce identical products b. an industry in which numerous price-taking firms produce identical products. c. an industry in which firms are price takers and compete for market share by varying the qualitative characteristics of products. d. an industry in which numerous firms are price makers and produce identical products.