135. In the early 2000s, the government passed laws requiring banks and mortgage brokers to disclose the terms of home loans. This action by the government was an attempt to:
A. solve the information asymmetry problem, but did not work as intended.
B. solve the information asymmetry problem and led to an improvement in the housing market.
C. screen out risky or shady banks and mortgage brokers.
D. signal to consumers that the government cared about the value of their homes.
A. solve the information asymmetry problem, but did not work as intended.
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The above table shows the total product schedule for the campus book store. When the book store is selling 60 books per hour it is certain that
A) marginal costs are increasing, but average variable costs are still decreasing. B) both marginal and average costs are decreasing. C) both marginal and average costs are increasing. D) hiring one more employee per hour will lead to fewer books being sold.
In the short run, a monopolistic competitor can
a. not earn an economic profit because of competition b. use limit pricing to reduce competition c. maximize profits by charging the highest price the market will bear d. earn an economic profit e. maximize profit by selecting the minimum efficient scale