Vipsana's Gyros House sells gyros. The cost of ingredients (pita, meat, spices, etc.) to make a gyro is $2.00. Vipsana pays her employees $60 per day. She also incurs a fixed cost of $120 per day. Calculate Vipsana's total cost per day when she produces

In terms of insurance, which of the following statements is explained by adverse selection?

A. A person with riskier characteristics tends to be more likely to buy insurance. B. A person who is more risk-averse tends to be more likely to buy insurance. C. Insurance companies charge risk-averse customers a higher premium, since they need more peace of mind. D. None of these statements is true.

You can find the MRP by multiplying marginal physical product by price for

A. both the perfect competitor and the imperfect competitor. B. neither the perfect competitor nor the imperfect competitor. C. only the perfect competitor. D. only the imperfect competitor.