If Tim insures his car against theft, it will
A. have no effect on the likelihood that his car will be stolen.
B. decrease his incentive to prevent his car from being stolen.
C. decrease the likelihood that his car will be stolen.
D. increase his incentive to prevent his car from being stolen.
Answer: B
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A natural monopoly that is regulated to set its price according to the marginal cost pricing rule will
A) incur an economic loss. B) maximize its profit. C) produce a quantity of output such that price is above average total cost. D) produce a quantity of output such that marginal cost is above average total cost.
When a firm practices perfect price discrimination,
a. Consumer surplus is maximized b. Producer surplus is minimized c. Producer surplus is maximized d. None of the above
Using the above table, the labor force is
A. 930,000. B. 380,000. C. 569,000. D. 911,000.
If the price of gasoline increases, what will be the impact in the market for public transportation?
A) The demand curve for public transportation shifts to the right. B) The quantity of public transportation demanded increases. C) The demand curve for public transportation shifts to the left. D) The quantity of public transportation demanded decreases.