In a study of college yearbook photos, researchers found that:
a. An inauthentic smile by males meant they would be unhappy in life
b. Women with the Pan Am (fake) smile were just as happy in life as women with the Duchene (genuine) smile
c. Smiling type makes no difference
d. A genuinely smiling woman (with the Duchene smile) is more likely to be married, stay married, and to experience more personal well-being than a woman with the fake smile.
D
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If a monopoly firm is at a level of output where MC equals $10 and is increasing, MR equals $10, and average variable cost equals $9 . To maximize profits, the firm should: a. increase both output and price
b. increase output but decrease the price. c. decrease output and increase the price. d. not change either the output or the price.
A profit-maximizing, competitive firm for which the marginal product of labor is diminishing also experiences
a. a perfectly inelastic supply of labor. b. a perfectly elastic supply of labor. c. a downward-sloping demand for labor. d. an upward-sloping demand for labor.
Recall the Application about the wireless phone service provided by thousands of entrepreneurial women in Pakistan to answer the following question(s).Recall the Application. What makes the wireless telephone market in Pakistan perfectly competitive?
A. There are many buyers and many sellers. B. Any entrepreneur who invests $310 can enter the market. C. Wireless phone calls are a standardized product. D. All of these are correct.
Compared to patients covered by conventional health insurance plans, patients in HMOs might receive fewer medical services because HMOs:
A. have legal protection from malpractice lawsuits. B. receive a fixed annual fee regardless of the amount of medical services provided. C. employ lower quality doctors. D. save costs by purchasing lower quality medical equipment.