A merger between an automobile manufacturer and a maker of automobile tires is an example of a:

Let's assume Ben can produce 3 units of a material good (M) or 3 units of a spiritual good (S) in a day, while Cal can produce 1 M or 2 Ss in a day. Both Ben and Cal can potentially produce a larger combination of M and S

A) if Ben specializes in S and Cal in M and they exchange with one another. B) if Ben specializes in M and Cal in S and they exchange with one another. C) if Ben specializes in both goods and doesn't exchange with Cal. D) only if Cal finds a way to also produce 3 M and 3 S per day.

The study of the problems due to asymmetric information was begun when economists analyzed which type of market?

A) the market for automobiles B) farmers' markets C) the market for insurance D) the market for citrus fruit