From the viewpoint of economic efficiency, when competitive forces in an industry are weak, market allocation will often lead to a. an output of the product that exceeds the amount consistent with ideal economic efficiency. b. an output of the product that is less than the amount consistent with ideal economic efficiency. c. an output of the product that equals the amount consistent with ideal economic efficiency. d. product prices that are below the cost of production.

You are a cfp and although you never went to law school, you consider yourself to be very good at reviewing wills. your client, catherine, asks you to prepare a will for her. should you prepare a will for catherine? a. yes, catherine is your best client and you might lose her if you do not prepare the will.b. yes, it is permissible for a cfp to prepare a legal document. c. no, preparing catherine's will would be considered the unauthorized practice of law.d. no, you should only prepare catherine's will if you are going to prepare her husband's will as well.

Sara and her friends were at an iowa football game in iowa city. sara is a life long resident of iowa and goes to college at dmacc. while she was in iowa city, robert smashed into her car when he ran a red light. sara was seriously injured and taken to university hospitals in iowa city (fortunately her injuries were not life threatening but laid her up for a long time and she had to drop out of college for the rest of the semester). robert is from michigan and was in iowa city to see the game and then to party later. at the time of the accident robert was drunk (at least legally - he blew a 0.17 and the limit is 0.08). sara has sustained about $500,000 in damages between her current and future medical bills, pain/suffering, lost wages, etc. also her car was totaled in the accident. can sara sue robert in a federal court? explain why or why not. (be sure to mention the two primary factors associated with suing someone in a federal court in a case like this.)

Ascientist successfully predicts the outcome of an experiment. you watch carefully and know he didn't cheat. the scientist's success shows that: a) the scientist knows absolute truth about this experiment; success is not possible unless you know the truthb) the scientist was just lucky; no one ever knows what's going on, so successful predictions require luckc) the scientist may know the truth, or at least know something that is close to the truth, or the scientist may have gotten lucky this time; you can't be absolutely sured) the scientist really was cheating, even though you didn't see the cheating; no one can get things right, except by cheatinge) the scientist spent the night at a particular hotel chain and go a free breakfast, giving the scientist the ability to do amazing things