Product differentiation that makes the product ________ is horizontal differentiation.

A) more similar to the rival's product
B) better than a rival's product from everyone's perspective
C) better for some consumers and worse for others
D) less expensive to produce than the rival's product

A benevolent social planner would prefer that the output of good x be decreased from its current level if, at the current level of output of good x,

A) social cost = private cost = private value < social value.
B) social cost > private value = social value > private cost.
C) social value = private value = private cost < social cost.
D) social value = private cost = social cost > private value.

Assume there is a fixed exchange rate between the Canadian and U.S. dollar. The expected return and standard deviation of return on the U.S. stock market are 18% and 15%, respectively. The expected return and standard deviation on the Canadian stock market are 13% and 20%, respectively. The covariance of returns between the U.S. and Canadian stock markets is 1.5%.
If you invested 50% of your money in the Canadian stock market and 50% in the U.S. stock market, the expected return on your portfolio would be

A) 12.0%.
B) 12.5%.
C) 13.0%.
D) 15.5%.