Some sellers of used cars provide warranties to buyers, with the aim of reassuring buyers that the car is of good quality. These warranties help reduce the chance of what occurring?

Refer to the diagram, which pertains to a purely competitive firm. Curve C represents:

A. total revenue and marginal revenue.
B. marginal revenue only.
C. total revenue and average revenue.
D. average revenue and marginal revenue.

Explain how an economist is like an engineer. Give an example.

What will be an ideal response?