Question 5
In a study of banking by asset size over time , we can find which asset sizes are tending to become more prominent . The size that is becoming more predominant is presumed to be least cost . This is called :
Question 6 Theoretically , in a long-run cost function : Question 7
The price for used cars is well below the price of new cars of the same general quality . This is an example of :
Question 8 Experience goods are products or services Question 9
Long distance telephone service has become a competitive market . The average cost per call is $ 0.05 a minute , and it ’ s declining . The likely reason for the declining price for long distance service is :
Question 10
All of the following are mechanisms which reduce the adverse selection problem except ____.
Question 11
In the short-run for a purely competitive market , a manufacturer will stop production when :