The theory of consumer choice illustrates the Select one: a. importance of property rights in creating efficient markets. b. ability of a single economic actor to have a substantial influence on market prices. c. the trade-offs that people face in their role as purchasers. d. All of the above are correct.

With signals from no-claim bonuses and deductibles, a. the marginal cost curve for careful drivers lies to the left of the marginal cost curve for aggressive drivers b. auto insurance companies insure more aggressive drivers than careful drivers because aggressive drivers have a greater need for the insurance c. the market for car insurance has a separating equilibrium, and the market is efficient d. most drivers pay higher premiums than if the market had no signals