Before 1860, most of the U.S. population lived _____ and most workers _____
a. in small to medium cities; were members of trade guilds
b. in rural areas; were self-employed
c. in large cities; were self-employed
d. in large cities; were employed in mills and factories
b. in rural areas; were self-employed
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In the above figure, if the market is competitive and unregulated, then at the equilibrium amount of output the marginal social benefit is
A) less than the marginal cost to producers. B) greater than the marginal social cost. C) equal to the marginal cost to producers. D) equal to the marginal private benefit from consumption.
Which of the following is LEAST likely characterized by mixed strategies?
A) the choice of whether to go to war or not B) the choice of which pitch to throw in baseball C) the choice of which play to run in football D) the choice of where to kick a soccer penalty shot