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ebonyadams ebonyadams
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6 years ago
Rational ignorance means
 
  A) ignorance is rationed.
  B) the benefit from some information is not worth the cost of collecting it.
  C) some people do not understand rationality.
  D) the information is unavailable.


Ques. 2

The figure above shows a consumer is indifferent between points
 
  A) d and c.
  B) a, b, c, d, and e.
  C) e and d.
  D) b and a.


Ques. 3

Teddy buys only chocolate chip cookies and hot chocolate and spends all of his income on the two items. Suppose the price of a cookie rises. According to marginal utility theory, Teddy buys
 
  A) more cookies.
  B) fewer cookies.
  C) more hot chocolate.
  D) an equal amount of cookies and hot chocolate.


Ques. 4

The table above lists the market shares of the twenty makers of personal computers. Based upon the Herfindahl-Hirschman Index
 
  A) the industry is an oligopoly.
  B) the industry is a monopoly.
  C) the industry is competitive.
  D) the firms in the industry will not be allowed to merge.


Ques. 5

The figure above shows a perfectly competitive firm. The firm is operating; that is, the firm has not shut down. The firm is
 
  A) making an economic profit of 200.
  B) incurring a economic loss of 200.
  C) incurring an economic loss of 600.
  D) making zero economic profit.
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megantttmeganttt
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6 years ago
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ebonyadams Author
wrote...

6 years ago
Thank you, thank you, thank you!
gefa
wrote...

Yesterday
Good timing, thanks!
Katey_maree
wrote...

2 hours ago
This helped my grade so much Perfect
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