Author Question: In the arena of asymmetric information, standardization (for example, menus at McDonald's ... (Read 74 times)

magmichele12 · **on:** Jul 1, 2018

In the arena of asymmetric information, standardization (for example, menus at McDonald's restaurants) is a substitute for

A) quality.
B) government regulation.
C) reputation of individual sellers.
D) firms' distinguishing among buyers.
E) firms' segregation of buyers.

Question 2

For consideration of such issues as labor's productivity growth nationwide, the relevant measure is the

A) marginal product of labor.
B) average product of labor.
C) total product of labor.
D) wage.
E) cost of capital.