Author Question: One reason individuals are willing to pay for information in uncertain situations is that ... (Read 140 times)

Pineappleeh · **on:** Jul 1, 2018

One reason individuals are willing to pay for information in uncertain situations is that information

A) can reduce uncertainty.
B) is a way to diversify.
C) is a method of insurance.
D) is a method of self-insurance.
E) always reduces the difference between the probabilities of possible outcomes.

Question 2

When compared to the demand curve for only one variable input, the demand curve for a factor input when several inputs are variable is

A) less elastic.
B) more elastic.
C) vertical.
D) horizontal.