If an educational voucher system were adopted where parents could spend their share of education tax dollars at any school of their choice, then we could expect families to
A. make no changes in their education choices because the relative price of private and public education has not changed.
B. make choices that cannot be predicted by economic theory.
C. choose less education than before because the public schools would get better.
D. choose more education because they do not need to pay double for private education.
Answer: D
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Harry's HVAC sells its new units with locked and encrypted servicing software, which only Harry's own service technicians can operate. Why would it want to do that? a. To ensure that the customer knows that they are stuck with Harry's service technicians b. To ensure that Harry's technicians do not service the equipment
c. To ensure that the customers do not buy second-class servicing and then infer faulty design if a unit breaks down due to inadequate service d. All of the above
When a firm's output level is high,
a. AVC dominates ATC so ATC begins to rise more rapidly b. AFC dominates ATC so AFC begins to rise more rapidly c. AFC dominates AVC so AFC begins to rise more rapidly d. ATC dominates MC so MC begins to fall more rapidly e. AVC dominates MC so MC begins to fall more rapidly