Since 1960, out-of-pocket spending on health care has increased sharply as a fraction of all health care spending

What did Harvard economist Edward Chamberlain say about the observation that a monopolistically competitive firm's average cost of production exceeds its minimum average total cost?

A) Chamberlain argued that these higher costs represent the wastefulness of this market structure. B) Chamberlain argued that this belief is incorrect. In his view, monopolistically competitive firms do not produce at a cost above their minimum average total costs. C) According to Chamberlain, this cost difference represents the value consumers place on variety and having more choice. D) In Chamberlain's view, this is evidence that monopolistic competition uses society's resources inefficiently and in a fashion that merits government intervention.

The cost of capital is a combination of a firm's payments to the different sources of capital funding is called

A) the weighted average cost of capital. B) the average cost of capital. C) the discount rate. D) the transfer price.