Refer to Table 15-2. What is the amount of profit that the firm earns?
A) 34.50 B) 42 C) 47 D) 49
Question 2
Why is a typical person likely to gather more information when buying a new car than when voting for a member of Congress?
A) because it is less costly to acquire information about consumer items than it is about political candidates
B) because a person's preferences are more likely to be met with little effort in the political sphere but this is not the case when buying a car in the private marketplace
C) because buying a new car affects a person more immediately and personally compared to voting for a member of Congress; in the latter, a person's vote is only one of many voters and therefore, not likely to have a large impact on the outcome
D) because the effects of buying a car are long term while a member of Congress has a relatively short tenure
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