The condition required for a consumer to be maximizing utility, for any pair of products, X and Y, is

In the figure above, which movement could be the result of an increase in the wages paid to oil workers?

A) point a to point e B) point a to point b C) point a to point c D) point a to point d

Adverse selection in insurance markets results in missing markets because people engage in riskier behavior once they are insured.

Answer the following statement true (T) or false (F)