Which of the following is true?
a. The actual result of changing behavior following the rule of rational choice will always make people better off.
b. The actual result of changing behavior following the rule of rational choice will never make people better off.
c. In terms of the rule of rational choice, zero levels of pollution would be far too costly in terms of what we would have to give up to achieve them.
d. The rule of rational choice implies that it is impossible to be too safe.
c
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The fundamental force that drives international trade is
A) absolute advantage. B) importation duties and tariffs. C) export licenses. D) comparative advantage.
In the figure above, point D is
A) less production efficient than point C. B) production efficient and point A is not production efficient. C) not production efficient and point B is production efficient. D) production efficient and point B is not production efficient.
Assume that the equilibrium price in a perfectly competitive industry is $4.25 . If a firm in this industry produced and sold 10 units with an average total cost of $5.00, what would be the result would be:
a. a profit of $0.75 b. a profit of $7.50 c. a loss of $0.75 d. a loss of $7.50
Generic drugs enter the pharmaceutical drug market once
a. the ingredients to the name brand drug have been discovered. b. 10 years have passed. c. they are patented. d. the patent on the name brand drug expires.