(Scenario: Capital) Look at the scenario Capital. In three years' time, what is the level of physical capital per worker in this economy?
What will be an ideal response?
266.2 units
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If a life insurance company offers coverage regardless of age, health status, or smoking history, it is likely to suffer
A) moral hazard problems. B) adverse selection problems. C) lower costs. D) low demand for its product.
A firm’s total profit is the difference between its sales and what it pays out in costs.
Answer the following statement true (T) or false (F)
Which of the following is an assumption of the monopoly model?
a. There exists a large number of buyers and sellers. b. There are no close substitutes of the good. c. The firm faces a horizontal demand curve. d. There is free entry and exit of firms. e. The firm is a price taker.
In Figure 1.9, the slope of the line between points L and M is
A. 1.20. B. 0.75. C. 0.80. D. 0.67.