Refer to the scenario above. What is the difference between the future value of John's deposit and Wendy's deposit after one year?

Suppose MRS is not the same across all consumers. In this case, the economic outcome is not fully efficient because:

A) exchange is inefficient. B) the use of inputs in production is inefficient. C) the mix of outputs in inefficient. D) none of the above

Which of the following is a distinguishing characteristic of oligopolies?

a. a standardized product b. the goal of profit maximization c. the interdependence among firms d. downward-sloping demand curves faced by firms e. a downward-sloping market demand curve