A person who is a __________ prefers a fair gamble to a certain outcome.

Suppose the equilibrium price for soft drinks is $1.00. If the current price in the soft drink market is $1.25 each

A) there will be a surplus of soft drinks. B) there will be a shortage of soft drinks. C) the supply curve of soft drinks will shift leftward. D) the demand curve for soft drinks will shift leftward.

When the marginal and average products of labor are equal to each other, the

A) average product must be at its maximum value. B) marginal product must be at its maximum value. C) total product must be at its maximum value. D) None of the above answers is correct