Which of the following occurs when insurance makes a person more likely to engage in risky behavior?

Monopolistically competitive markets feature heterogeneous products

a. True b. False Indicate whether the statement is true or false

If DeShawn only pays $25,000 to purchase a new car even though he would have been willing to pay as much as $35,000 for the car, this indicates that

a. DeShawn is an irrational consumer. b. The seller earned a $10,000 profit on the sale of the car. c. DeShawn reaped $10,000 of consumer surplus from the transaction. d. The seller received $10,000 worth of producer surplus on the transaction.