Applying the idea of time inconsistency, we can say that, in general, a person's "future-oriented self":
A. has the same objectives as the person’s present-oriented self, but articulates them differently.
B. tends to choose healthier options, whereas the present-oriented self gives into temptation more easily.
C. is less rational in decision-making, because that self rarely matches actual behavior.
D. is more rational in decision-making, because its choices are generally healthier or more altruistic.
B. tends to choose healthier options, whereas the present-oriented self gives into temptation more easily.
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If both a buyer and a seller have the same information, they are said to have symmetric information.
Answer the following statement true (T) or false (F)
A price ceiling is only effective if it is above the market equilibrium
a. True b. False Indicate whether the statement is true or false
Compared to the monopoly outcome with a single price, imperfect price discrimination (i) sometimes raises total surplus. (ii) sometimes lowers total surplus. (iii) always leads to a lower quantity of output
a. (i) and (ii) only b. (ii) and (iii) only c. (i) and (iii) only d. (i), (ii), and (iii)
At an output level of zero, total cost is zero.
Answer the following statement true (T) or false (F)