Research Finds That One of the Best Ways to Reduce

question 19

Multiple Choice

Research finds that one of the best ways to reduce suicides is to ________.

• A) make antidepressant medication available without a prescription
• B) take steps to reduce access to firearms
• C) have laws that provide greater punishment for domestic abusers
• D) increase the ability of a physician to involuntarily commit a depressed person to a hospital

Understand the concept of diminishing returns and how it impacts the marginal cost schedule.

Calculate profit or loss given costs and market price.

Identify conditions under which a firm should operate, expand, contract, or exit in the short and long run.

Interpret cost and revenue data from tables to make production and pricing decisions.

---

Definitions:

Unemployment

The situation in which individuals who are capable of working and willing to work cannot find employment.

Black Market

An illegal traffic or trade in officially controlled or scarce commodities, bypassing governmental regulation or taxation.

Binding Price Floor

A government-imposed price control that sets the minimum price above the equilibrium price, causing a surplus in the market.

Deadweight Loss

An economic inefficiency caused by a deviation from the optimal allocation of resources, often resulting from market distortions like taxes or subsidies.