If a monopolistically competitive firm's demand curve is shifting left, it will stop shifting only when:
A. firms stop leaving the industry.
B. firms stop entering the industry.
C. the firm raises its price.
D. the firm lowers its price.
B. firms stop entering the industry.
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Dane has a car valued at $20,000 that gives him a utility of 80. There is a 5 percent chance that he will have an accident that will make his car worthless, in which case his utility will be zero. His utility from a wealth of $15,000 is 76
The maximum amount Dane will be willing to pay for insurance is A) $1,000. B) $3,000. C) $5,000. D) $15,000.
A solution to the budget-gaming problem is
a. Introduce milestones or kinks in the compensation scheme b. Use a straight line pay for performance function c. Base compensations on meeting particular budget goals d. All of the above