In the used car market, the adverse selection problem refers to the fact that a buyer must choose a used car from an undesirable selection of cars.

List three ways the measured unemployment tends to understate the unemployment problem

What will be an ideal response?

The average cost for a typical electric-power-production firm is AC = 100 - 10Q + Q2 where Q is measured in billion kilowatt hours per day. At the current regulated price, consumers demand 4 billion kilowatt hours per day. Is this market a natural monopoly? If demand increases to 10 billion kilowatt hours, is this market a natural monopoly? Explain

What will be an ideal response?