Consider the case of a teacher who tells students that those who miss more than three classes for any reason will automatically receive a lower grade
A) This is an example of a positive incentive for students to attend class.
B) This is an example of a negative incentive for students to attend class.
C) The teacher is assuming that students are irrational, and she must force them to attend class.
D) Students who miss more than three classes are irrational.
B
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What term is used to describe situations where countries specialize in and trade different varieties of the same type of product?
a. comparative advantage b. the Heckscher-Ohlin model c. intra-industry trade d. increasing returns to scale
Willingness to accept is:
A) always lower than the marginal cost of production. B) always higher than the marginal cost of production. C) the lowest price that a producer is willing to receive to sell an extra unit of a good. D) the highest price that a producer is willing to receive to sell an extra unit of a good.