Research associates obesity with a higher risk of all the following conditions except:
a. depression.
b. type 1 diabetes.
c. stroke.
d. cancer.
e. cardiovascular disease.
b. type 1 diabetes.
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The demand for French Roast coffee is likely to be
A. elastic. B. inelastic. C. unit elastic. D. perfectly inelastic.
Microeconomics is the study of
A) aggregate measures of the economy. B) foreign policy economic issues. C) federal budget details. D) individual decision making.
If a monopolist must lower the price on all units in order to sell an additional unit,
a. it is impossible for the monopolist to maximize profit b. the monopolist will always lose profit when it increases quantity c. the monopolist will always lose revenue when it increases quantity d. price will always be greater than marginal revenue e. price will always be less than marginal revenue
When there is market failure due to a negative externality,
a. innocent people will suffer since it cannot be corrected. b. setting price equal to marginal social cost will solve it. c. the free market produces too little output. d. externalities have been taken into account. e. the best solution eliminates the externality entirely.