Suppose $100 invested next year results in a return of b two years from now. If individuals do not discount the future but have a beta of 0.5 (in the beta-delta model), for what range of b will an individual plan to make the investment but then reverse course next year?

A _____ requires workers to comply with orders from a boss, who need not consult them when making decisions, and to be paid for their cooperation

a. residual claimant b. hierarchy c. shareholder d. cooperative

Briefly contrast the situation where losses will be the smallest for a perfectly competitive firm based on total revenues with another situation where losses for a perfectly competitive firm will be smallest based on marginal revenue