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Author Question: Corn flakes are A) a rival good because many firms produce them. B) a rival good because if ... (Read 41 times)

sabina

  • Hero Member
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  • Posts: 563
on: Jul 1, 2018
Corn flakes are
 
  A) a rival good because many firms produce them.
  B) a rival good because if another person wants some corn flakes society has to use additional resources to produce corn flakes for that person.
  C) a non-rival good because there are only a few firms in the industry.
  D) a non-rival good because even if another person wants some corn flakes so many corn flakes are produced that no additional resources are used to satisfy this new customer's needs.
  E) a public good.

Question 2

When states make car insurance mandatory for all drivers, it
 
  A) raises rates for everyone because it brings bad drivers into the pool.
  B) raises rates for high-risk drivers.
  C) may lower rates for all drivers to the extent that it keeps low-risk drivers in the pool.
  D) prevents high-risk drivers from selecting out, to the detriment of low-risk drivers.
  E) increases the amount of information available to insurers about the population.


brittrenee

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  • Posts: 321
Reply #1 on: Jul 1, 2018
Answer to Question 1

B

Answer to Question 2

C


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