Refer to the short-run information provided in Figure 8.5 below to answer the question(s) that follow.  Figure 8.5 Refer to Figure 8.5. The marginal cost of the second drone is

Before the nation's first transcontinental railroad was completed, travelers to the Pacific Coast used which forms of transportation?

a. ship, wagon b. dugout canoe, dirigible c. horse d. All of the above are correct.

If the value of a cable TV franchise is uncertain, too much may be bid for the franchise. This is an example of

a. moral hazard b. an authority relation c. the winner's curse d. the principal-agent problem e. adverse selection