If a conscientious manufacturer underestimates the true value of life, the manufacturer will likely fail to take all cost-justified precautions

The monopoly that does not practice price discrimination

a. is a firm with a marginal revenue curve with a slope of zero b. is a price taker c. charges the same price for every unit of output it sells d. operates in a market where all firms charge the same price e. is always profitable in the short run

Which of the following is a government response to asymmetric information?

A) product guarantees B) external product certification C) manufacturer's warranties D) government licensing