Short-run total cost is the sum of
a. short-run fixed cost, short-run variable cost, and short-run marginal costs.
b. short-run fixed cost and short-run marginal costs.
c. short-run variable cost and short-run costs.
d. short-run fixed cost and short-run variable cost.
d
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Total income is always equal to ________ expenditures; but only in equilibrium is it equal to ________ expenditures, producing in equilibrium ________ on income to change
A) actual, planned, pressure B) actual, planned, no pressure C) planned, actual, pressure D) planned, actual, no pressure
The following is an example of adverse selection
a. A majority of those applying for well paid jobs are under qualified b. More reckless drivers opt for cars with fewer safety devices c. Individuals living in less secure neighborhoods want to buy less insurance d. Individuals with a strong family history of heart diseases opt to buy less insurance