Which of the following is a characteristic of a perfectly competitive market?
a. Homogeneous products

The HPV vaccine protects against human papillomavirus (HPV) that causes cancer. It protects both the person getting the vaccine and the sexual partners of that person. In a private market with no government intervention, the equilibrium will be

A) overprovision of the HPV vaccine and a deadweight loss. B) overprovision of the HPV vaccine but no deadweight loss. C) underprovision of the HPV vaccine but no deadweight loss. D) underprovision of the HPV vaccine and a deadweight loss.

Suppose Congress passes a law that states that the federal government will pay $100 to any American citizen who can pass a (reasonably simple) current political events test. It follows that

A) this raises the benefits of being rationally ignorant. B) this raises the benefits of becoming informed and therefore will lower the degree of rational ignorance in society. C) this raises the costs of being rationally ignorant. D) b and c E) none of the above