Those who believe that market prices always incorporate all available information believe:
A. that randomly choosing a stock is not as effective as technical or fundamental analysis.
B. that current stock prices does not represent true value as correctly as is possible.
C. in the efficient-market hypothesis.
D. All of these are true.
Answer: C
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The above figure shows the marginal social benefit and marginal social cost curves of coffee in the nation of Kaffenia. Producing and consuming the efficient quantity of coffee in Kaffenia means that
A) the marginal social cost of the last pound of coffee is at the lowest possible value. B) the marginal social benefit of the last pound of coffee is at its highest possible value. C) to produce more coffee, the marginal social benefit of an additional pound of coffee is less than its marginal social cost. D) All of the above are correct.
Which of the following is the best example of substitutes?
a. coffee and cream b. videotapes and VCRs c. money and biscuits d. tortillas and salsa e. hiking boots and athletic shoes