What involves taking the risks that are necessary to seek out business opportunities?
a. Invention
b. Benchmarking
c. Averaging
d. Entrepreneurship
d
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When does an incomplete contract prove beneficial?
Taxes that are enacted to mitigate the effects of negative externalities are sometimes called
a. control taxes. b. command levies. c. Pigovian taxes. d. Marshallian taxes.
China has roughly how much of the world's population?
A. 40 percent. B. 30 percent. C. 20 percent. D. 10 percent.
Refer to the information provided in Figure 8.8 below to answer the question(s) that follow. 
Figure 8.8 Refer to Figure 8.8. If the market price of soybeans falls to $8, then to maximize profits this farmer should produce
A. 200 bushels of soybeans. B. 700 bushels of soybeans. C. 1,000 bushels of soybeans. D. a level of output that is indeterminate from this information.