Mr. Smith wants to buy a house in a certain neighborhood that he thinks is ideal for an elderly, single man like himself
However, before buying the house, he consults his friend who lives in the same neighborhood and thinks that it is the ideal place for him. This is an example of a(n) ________. A) confirmation bias
B) attenuation bias
C) attentional bias
D) distinction bias
A
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Answer the following statements true (T) or false (F)
1) In general, if two stages in a supply chain are making an economic profit by setting prices that exceed their marginal cost of production, managers can increase profit through vertical integration. 2) Because vertical integration is a yes or no decision, managers cannot use marginal analysis. 3) If a firm has a monopoly in both the production and distribution, managers of the two divisions should be encouraged to maximize profits in their separate divisions. 4) If a firm has a monopoly in both the production and distribution, to maximize the overall economic profit of the firm, managers of either the production or distribution center should be instructed to maximize profit and the managers of the other center should be instructed to operate as a competitive market. 5) Vertical integration can eliminate double marginalization.
Explain why producers rather than consumers may be the beneficiaries of regulation. Does the evidence support this view?
The record for the longest U.S. economic expansion started in March ______ and ended in March ______.
Fill in the blank(s) with the appropriate word(s).
For normal goods, the income and substitution effects help explain the downward slope of the demand curve.
Answer the following statement true (T) or false (F)