Barter transactions involve a double coincidence of wants

An insurance premium is a

A) payment made by an insurance company to a policyholder after the occurrence of an insurable event. B) payment made by an insurance company to a policyholder following a period in which the policyholder has filed no claims against the company. C) fee paid by policyholders to insurance companies as payment for coverage. D) fee paid by policyholders to insurance companies in exchange for special considerations, such as a particularly large policy.

In the short run, the profit maximizing (or minimizing) quantity of output for any firm to produce exists at that output level at which marginal revenue equals marginal cost

a. True b. False Indicate whether the statement is true or false