If a firm operates in a perfectly competitive market, then
A) all firms will advertise.
B) no firms will advertise.
C) the market leader will advertise.
D) new firms will advertise.
B
Economics
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Lucinda buys a new GPS system for $250. She receives consumer surplus of $75 from the purchase. What value does Lucinda place on her GPS system?
A) $75 B) $175 C) $250 D) $325
Economics
The foundational principle that makes insurance companies work is called:
A. risk assignment. B. risk analysis. C. catastrophic causation. D. risk pooling.
Economics