Suppose a single-price monopoly sells 3 units of a good at $20 per unit. If the monopoly sells 4 units, the total revenue increases to $72. What is the marginal revenue of the fourth unit?

Which of the following is true?

A) Government intervention in the form of direct regulation does not involve any cost. B) The opportunity cost of government work is the tax imposed on the society. C) The allocation of time and talent of individuals to bureaucracy is an important cost of government. D) The larger the size of the bureaucracy, the higher is its efficiency.

Individuals who are more risk averse

a. buy less insurance b. buy more insurance c. are not more or less inclined to buy insurance d. are philosophically opposed to insurance