Which of the following is true regarding the use of legal counsel at arbitration proceedings?

A) It is up to each of the parties. They may have legal counsel or they may not.
B) Parties may not have legal counsel.
C) Parties may have legal counsel if they had legal counsel in mediation proceedings. Otherwise, legal counsel may not be used.
D) Individuals may have legal counsel, but corporations may not.
E) Corporations may have legal counsel, but individuals may not.

If someone did not regard health care as very important,often using home remedies and other substitutes,his or her demand curve for health care would most likely be more _____ than that of other people.

A) price-elastic
B) price-inelastic
C) upward-sloping
D) bowed-out

In an Edgeworth box, all points of efficiency occur:

A) at the intersections of the indifference curves.
B) at the points of tangency between the sets of indifference curves.
C) in the midpoint of the diagram.
D) at any point other than the intersections of the indifference curves.

Knappert Corporation makes one product and has provided the following information: a.Each unit of finished goods requires 3 pounds of raw materials.The raw materials cost $5.00 per pound.
B.The direct labor wage rate is $24.00 per hour.Each unit of finished goods requires 2.8 direct labor-hours.
C.Manufacturing overhead is entirely variable and is $11.00 per direct labor-hour.
D.The variable selling and administrative expense per unit sold is $3.80.The fixed selling and administrative expense per month is $50,000.
The unit product cost is closest to:

A) $82.20
B) $93.20
C) $30.80
D) $113.00

Stock X has a required return of 12% and a dividend yield of 5%,and its dividend is expected to grow at a constant rate forever.Stock Y has a required return of 10%,a dividend yield of 3%,and its dividend is expected to grow at a constant rate forever.Both stocks currently sell for $25 per share.Which of the following statements is correct?

A) Stock Y pays a higher dividend per share than Stock X.
B) Stock X pays a higher dividend per share than Stock Y.
C) Stock Y has a lower expected growth rate than Stock X.
D) Stock Y has the higher expected capital gains yield.