When the federal government orders firms to use particular methods to reduce pollution, it is said to be using

You own a 2007 Ford Explorer. Although it has high mileage, you have maintained it very well

You want to sell it, but after checking the prices other owners of 2007 Ford Explorers are able to get for their cars in the used car market, you decide the prices are too low and you decide not to sell. This is an example of A) the "lemons problem." B) moral hazard. C) economies of scale. D) low information costs.

If most firms in an industry are earning a 7 percent rate of return on their assets, but your business is earning 9 percent, your rate of economic profit is

a. minus 2 percent. b. 2 percent. c. 9 percent. d. 16 percent.