Consider a society with incomes $15, $25, and $50. The government can redistribute $10 from the riches to the poorest. Which social welfare function would support this redistribution the most?

Firms practice price discrimination primarily to increase total welfare in the economy.

Which of the following best explains why an individual labor supply curve might bend backward at higher wages?

Rust forming is a _______type of reaction   *Answer should be in all lowercase

NextGen Tech and ValueByte are two online retailers that sell refurbished laptops. NextGen Tech specializes in high-quality refurbished laptops, which customers value at $950. It costs NextGen Tech about $600 to purchase, refurbish, and sell each unit. ValueByte, on the other hand, sells lower-quality refurbished laptops. Customers value these lower-quality devices at only $450, and it costs ValueByte just $300 per unit to refurbish and sell. Customers cannot initially tell which seller offers better-quality products. As a result, they believe there’s a 35% chance of receiving a high-quality laptop from either seller. To signal its quality, the manager at NextGen Tech considers offering a warranty lasting t months. The expected cost of such a warranty is $15 per month for NextGen Tech. However, due to more frequent breakdowns and customer complaints, the same warranty would cost $35 per month for ValueByte to offer. What is the minimum number of months (t) of warranty that NextGen Tech would need to offer so that ValueByte would not find it profitable to mimic the offer?

As Nest, maker of smart thermostats, was planning the launch of their most recent product, they tried to anticipate the product life cycle for this type of new product and they have also been trying to manage the product life cycle as effectively as possible.  Given that, which of the following statements related to the Product Lifecycle concept is most accurate?

A software company charges a different price for its product in different countries based on average income levels. What type of price discrimination is this?

A health insurance company finds that people who buy insurance tend to have higher medical expenses than the average population. Which problem does this situation illustrate?

In a static game, players make decisions at different points in time, potentially with knowledge of earlier moves.

Sweetgreen sells premium salads in a monopolistically competitive fast-casual market. The demand for its Kale Caeser bowl in a specific region is: