The owner of a garage makes large contributions to a politician who is seeking the office of state governor. If his candidate wins, he will get the contract, which now resides with a competitor, to repair State Police vehicles. This is an example of
a. moral hazard.
b. externality.
c. rent seeking.
d. investment.
c
Economics
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What will be an ideal response?
Economics
Rose, who grows geraniums to sell, is currently producing a level of output at which her marginal cost equals her average variable cost. What must be true about Rose's average total cost at this level of output? a. It is at a minimum
b. It is at a maximum. c. It is falling with increased output. d. It is equal to average variable cost.
Economics