Government's ability to reduce private-sector economic risks through laws and regulations would encourage all of the following, except:
A. Higher levels of private economic investment
B. Formation of new businesses
C. Introduction of new products and processes
D. Reduction of private goods and services
D. Reduction of private goods and services
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The table above shows the demand and total cost schedule for a monopolist hotel. What is the marginal revenue from renting out the fifth room each night?
A) $111 B) $141 C) $151 D) $161
According to the textbook, the dramatic global shift toward market capitalist economies in the 1980s and 1990s is in large part the result of:
A) an emphasis on individual ownership and decision making power yielding freedom not available under socialist systems. B) the philosophical and theoretical arguments of communism and socialism being finally proved correct. C) the realization that government controls will allocate resources on the basis of comparative advantage. D) a shift to more capital-intensive production.