People are unlikely to choose to pay extra for a low-emissions automobile, because they:
A. do not fully understand the environmental benefits of lower emissions.
B. are better off "free-riding" on others' attempts to reduce emissions.
C. would have to sacrifice fuel efficiency and automotive performance.
D. cannot afford the extra expense of "green" technology.
Answer: B
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When Goodyear increases its production when Michelin reduces its production, Goodyear is playing a
A) negative-sum game. B) cooperative game. C) non-cooperative game. D) reaction function game.
Exhibit 6-5 Marginal utility data for desserts Quantity Brownies Ice Cream Pie 1 20 18 16 2 18 17 13 3 15 14 9 4 12 11 7 5 10 8 5 Refer to Exhibit 6-5. Each dessert is priced at $1. If you had $10 to spend on desserts, which of the following combinations of goods would you buy?
A. 5 units of brownies, 4 units of ice cream, and 1 unit of pie. B. 4 units of brownies, 5 units of ice cream, and 1 unit of pie. C. 4 units of brownies, 4 units of ice cream, and 2 units of pie. D. 4 units of brownies, 3 units of ice cream, and 3 units of pie.
What is the advantage of the standard deviation over the average deviation?
A) Because the standard deviation requires squaring of deviations before further computation, positive and negative deviations do not cancel out. B) Because the standard deviation does not require squaring of deviations, it is easy to tell whether deviations are positive or negative. C) The standard deviation removes the units from the calculation, and delivers a pure number. D) The standard deviation expresses the average deviation in percentage terms, so that different choices can be more easily compared. E) The standard deviation transforms subjective probabilities into objective ones so that calculations can be performed.
The least scrutiny of management’s operations occurs when ____ is the method used to obtain corporate financing.
A. stock issue B. bond issue C. plowback D. watering