According to behavioral economics, participants in a half-marathon are likely to have trained
a. more than they planned and run faster than they anticipated.
b. more than they planned but run slower than they anticipated.
c. less than they planned and run slower than they anticipated.
d. less than they planned but run faster than they anticipated.
c
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The demand curve faced by a monopolistically competitive firm
A. is more elastic than the demand curve faced by the purely competitive firm. B. is less elastic than the monopolist's demand curve. C. will shift outward as new firms enter the industry. D. is more elastic than the monopolist's demand curve.
Endogenous variables tend to be less volatile than exogenous ones
Indicate whether the statement is true or false
Barter is the direct exchange of goods and services for: a. any kind of money
b. other goods and services. c. either goods or money. d. commodity money. e. foreign currency.
The short-run average total cost curve is generally assumed to be:
A. downward-sloping. B. U-shaped. C. upward-sloping. D. horizontal.