The rule of thumb according to which people are more likely to assume something belongs to a given category if it shares many characteristics with the stereotypical members of that category is the:

A. availability heuristic.
B. anchoring heuristic.
C. adjustment heuristic.
D. representative heuristic.


Answer: D

Economics

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Suppose a monopolistically competitive firm sells 25 units at a price of $10. Calculate its marginal revenue per unit of output if it sells 5 more units of output when it reduced its price to $9

A) $270 B) $20 C) $4 D) $2.50

Economics

In the theory of utility, it is assumed that marginal utility:

a. increases as the consumption of a product increases. b. is always zero irrespective of any increase or decrease in consumption. c. remains constant when consumption of a product increases. d. diminishes as the consumption of a product increases. e. remains constant when the consumption of a product decreases.

Economics

Economic theory suggests politicians will be most likely to favor redistribution of income from

What will be an ideal response?

Economics

Investing in financial instruments in today's economy:

A. is an activity practiced only by the wealthy. B. is made easier by the use of mutual funds. C. involves costly transactions. D. requires a relatively large sum of money to invest (more than $100,000).

Economics