Refer to the saving schedule above. Dissaving occurs when disposable income is:

A key difference between a monopoly and a perfectly competitive firm is that the monopolist

A) does not face fixed costs in the short run. B) has a marginal revenue curve that lies below its demand curve. C) has no marginal cost curve. D) faces a perfectly elastic demand for its product.

Blanca has her choice of either a certain income of $20,000 or a gamble with a 0.5 probability of $10,000 and a 0.5 probability of $30,000. The expected value of the gamble:

A) is less than $20,000. B) is $20,000. C) is greater than $20,000. D) cannot be determined with the information provided.