The "law of diminishing marginal returns" applies to:
A) the short run, but not the long run.
B) the long run, but not the short run.
C) both the short run and the long run.
D) neither the short run nor the long run.
A
Economics
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One way of reducing the moral hazard problem in the automobile insurance market is for drivers to
A) carry high deductibles. B) carry no deductibles. C) all have good driving records. D) never make any claims.
Economics
If there is no budget constraint, utility maximization is achieved when marginal utility is zero.
Answer the following statement true (T) or false (F)
Economics