Author Question: Which firm in an industry is likely to have higher profits? a. Sellers with higher costs than their ... (Read 60 times)

bobypop

  • Hero Member
  • *****
  • Posts: 539
Which firm in an industry is likely to have higher profits?
 a. Sellers with higher costs than their competitors
  b. Sellers with lower costs than their competitors
  c. Sellers with the same costs as their competitors
  d. All of the above

Question 2

Adverse selection in insurance requires that
 a. all people face the same risk
 b. potential customers facing more risk are more interested in purchasing insurance
  c. people are not risk averse
 d. insurers can tell higher risk people from lower risk people



Meganchabluk

  • Sr. Member
  • ****
  • Posts: 301
Answer to Question 1

b

Answer to Question 2

b



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

When blood is deoxygenated and flowing back to the heart through the veins, it is dark reddish-blue in color. Blood in the arteries that is oxygenated and flowing out to the body is bright red. Whereas arterial blood comes out in spurts, venous blood flows.

Did you know?

Intradermal injections are somewhat difficult to correctly administer because the skin layers are so thin that it is easy to accidentally punch through to the deeper subcutaneous layer.

Did you know?

Opium has influenced much of the world's most popular literature. The following authors were all opium users, of varying degrees: Lewis Carroll, Charles, Dickens, Arthur Conan Doyle, and Oscar Wilde.

Did you know?

Most women experience menopause in their 50s. However, in 1994, an Italian woman gave birth to a baby boy when she was 61 years old.

Did you know?

In 1844, Charles Goodyear obtained the first patent for a rubber condom.

For a complete list of videos, visit our video library