The health care market is characterized by:
A. extensive negative externalities.
B. significant positive externalities.
C. perfect knowledge by both buyers and sellers.
D. a perfectly inelastic demand.
Answer: B
Economics
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In the long run, a firm in monopolistic competition will produce
A) where average total cost is minimized. B) where price equals average total cost but average total cost is not at its minimum. C) zero output. D) any possible amount of output. E) where price equals marginal cost.
Economics
A scatter plot:
A) is the same as a pie chart. B) shows how a variable changes across time. C) shows the relationship between two variables at a point in time. D) represents the frequency of a variable being observed.
Economics