Because the presence of a warranty for a good is a signal that the good is of high quality,
A) consumers are willing and able to pay more for a good that carries a warranty.
B) consumers are willing to buy goods if and only if the goods come with warranties.
C) producers do not need to charge extra for warranties.
D) producers can use warranties to sort out high-risk customers.
E) producers must make warranties available on all goods.
Question 2
If a competitive firm's marginal cost curve is U-shaped then
A) its short run supply curve is U-shaped too
B) its short run supply curve is the downward-sloping portion of the marginal cost curve
C) its short run supply curve is the upward-sloping portion of the marginal cost curve
D) its short run supply curve is the upward-sloping portion of the marginal cost curve that lies above the short run average variable cost curve
E) its short run supply curve is the upward-sloping portion of the marginal cost curve that lies above the short run average total cost curve
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