It will not benefit a seller to provide verifiable information to buyers about the seller's product
Indicate whether the statement is true or false
F It is possible that improved information will benefit the seller of a high-quality product, by enabling buyers to realize it is of high quality.
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The opportunity cost of watching television is:
a. all of the alternative programs that appear on other stations. b. zero because there is no money expenditure involved. c. the alternative use of the time foregone by watching the program. d. zero if it benefits you.
The marginal cost of catching a fish is the same as the average total cost at your current level of 3,000 fish. If the price you receive for fish is greater than the marginal cost of the 3,000th fish, you should
a. add another boat to your fleet b. decrease production until MC = MR c. increase production until MC = MR d. stop production at 3,000th fish e. decrease production until the marginal cost of the next unit is enough to pay for the workers, bait, and fuel