The ________ the utilities from each possible outcome of a situation weighted by the probability of that outcome is called expected utility.

If the production of a good causes pollution (an external cost) is the unregulated competitive market equilibrium of that product efficient?

What will be an ideal response?

Xanadu Corp has issued 90 million shares of stock, and it has no plans to issue any more in the near future. If the demand for Xanadu stock increases,

a. the price and quantity of Xanadu stock will both increase b. the price and quantity of Xanadu stock will both decrease c. the price will remain constant, and the quantity of Xanadu stock will increase d. the quantity of Xanadu stock will remain constant, and the price will increase e. the price will increase, and the quantity of Xanadu stock will decrease