Progressive Insurance's 'Tripsense' monitors driving patterns of the people who purchase the related insurance policy. This lowers insurance costs because
a. only less reckless drivers will accept the device
b. only more reckless drivers will accept the device
c. drivers will believe they can now drive more recklessly
d. it does not affect care in driving
a
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The table above has the domestic demand and domestic supply schedules for a good. If the world price of the good is $10, then according to the table
A) the country exports 6 units a day. B) the country imports 6 units a day. C) the country imports 16 units a day. D) the country exports 22 units a day. E) domestic production is higher before trade than after trade.
In a cartel
A) each firm has an incentive to decrease its own production below the level set by the cartel. B) the firms' marginal cost equals the price set by the cartel. C) each firm has an incentive to lower its price below the level set by the cartel. D) each firm has an incentive to raise its price above the level set by the cartel.