ZK
Zybrea Knight
Answers (6)
ZK
Answered
Suppose that Betty's Beads is a typical firm operating in a perfectly competitive market. Currently Betty's MR = $15, MC = $12, ATC = $10, and AVC = $8. Based on this information, we can conclude that
A) Betty's is in long-run equilibrium.
B) Betty's experience will encourage new firms to enter the market.
C) Betty's experience will encourage some existing firms in this market to leave.
D) Betty's experience will discourage firms from entering the market.
A) Betty's is in long-run equilibrium.
B) Betty's experience will encourage new firms to enter the market.
C) Betty's experience will encourage some existing firms in this market to leave.
D) Betty's experience will discourage firms from entering the market.
On Jul 06, 2024
B
ZK
Answered
When the supplier, not the buyer, of health care services makes most of the decisions about the amount and type of health care to be provided, there is
A) a moral hazard in the health care market.
B) asymmetric information in the health care market.
C) a lack of medical ethics in the health care market.
D) a need for Medicare in the health care market.
A) a moral hazard in the health care market.
B) asymmetric information in the health care market.
C) a lack of medical ethics in the health care market.
D) a need for Medicare in the health care market.
On Jul 02, 2024
B
ZK
Answered
The number of units that must be sold to achieve a target profit of $16,100 is closest to:
A) 32,000 units
B) 19,400 units
C) 10,400 units
D) 23,000 units
A) 32,000 units
B) 19,400 units
C) 10,400 units
D) 23,000 units
On Jun 06, 2024
C
ZK
Answered
A supply curve describes
A) the relationship between price and quantity demanded
B) the relationship between price and quantity supplied
C) the relationship between a group of buyers and sellers
D) none of the above
A) the relationship between price and quantity demanded
B) the relationship between price and quantity supplied
C) the relationship between a group of buyers and sellers
D) none of the above
On Jun 02, 2024
B
ZK
Answered
Should lending laws be changed to require lenders to report the EAR rather than the APR? Explain.
On May 06, 2024
It would be more meaningful for consumers to know the EAR rather than the APR. The EAR is slightly more difficult to calculate and also more difficult to explain, and may add confusion to the loan process. However, regardless of the costs, it would appear that consumers would benefit from learning what the EAR is as opposed to the APR.
ZK
Answered
An auctioneer allows bidders to examine a jar of pennies, but he does not allow them to open the jar and count the pennies.The jar is then sold by means of an English auction.Economists call an auction of this type a private-values auction, since opinions differ.
On May 03, 2024
False