The interaction of supply and demand explains
A) the prices of goods and services but not their quantities.
B) the quantities of goods and services but not their prices.
C) both the prices and the quantities of goods and services.
D) neither the prices nor the quantities of goods and services.
C
Economics
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Signals solve the adverse selection problem
A) if the signal is an advertisement placed in the New York Times or other top-tier publication. B) only if the signal is viewed as credible. C) when the signal is expensive to produce. D) if the signaling firm is known to be a profit-maximizer.
Economics
Which of the following goods is rival and excludable?
a. an uncongested toll road b. an uncongested nontoll road c. a congested nontoll road d. a congested toll road
Economics