Governments can address the adverse selection problem in the health insurance market by requiring all its citizens to have health insurance
Indicate whether the statement is true or false
TRUE
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Marginal utility is the change in:
a. total utility when an extra unit of output is produced. b. marginal utility when an extra unit of output is consumed. c. total utility when an extra unit of output is consumed. d. marginal utility when an extra unit of output is produced. e. average utility when an extra unit of output is consumed.
Isabella is contemplating investing $10,000 in an investment. It is expected to yield $4,000 at the end of each of the next three years. The interest rate is 5 percent. What is the net present value of the expected revenues from the investment?
a. $8,426 b. $9,947 c. $10,893 d. $12,000
Which of the following pairs illustrates the two extreme examples of market structures?
a. perfect competition and oligopoly b. perfect competition and monopoly c. monopoly and monopolistic competition d. oligopoly and monopolistic competition
A higher income tends to make demand for a given good ______ elastic.
Fill in the blank(s) with the appropriate word(s).