The assumption of completeness means that
A) the consumer can rank all possible consumption bundles.
B) more of a good is always better.
C) the consumers can rank all affordable consumption bundles.
D) all preferences conditions are met.
A
Economics
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Consumer surplus is the area
A) below the demand curve and above the market price. B) below the supply curve and above the market price. C) above the demand curve and below the market price. D) above the supply curve and below the market price. E) below the demand curve and above the supply curve.
Economics
Asymmetric information contributes to
A) the adverse selection problem. B) the moral hazard problem. C) both the adverse selection problem and the moral hazard problem. D) neither the adverse selection problem nor the moral hazard problem.
Economics