Someone who values a lottery at less than the expected value is

If the minimum efficient scale of production is small relative to the size of a market, then

a. the industry will tend to be highly concentrated b. there will be much strategic interdependence among the sellers in the industry c. the industry is unlikely to be an oligopoly d. it is more likely that sellers in the industry will successfully collude e. there will be much merger activity in the industry

There is general agreement among economists that a proposed fiscal policy should be evaluated for its:

A. Contribution to the purpose of "fine-tuning" the economy B. Contribution to the growth of exports and imports in the economy C. Potential positive and negative effects on long-run productivity growth D. Potential positive and negative effects on short-run business indebtedness