One important consequence of the self-serving bias is that:
A. Some people cannot correct a personal trait that might be causing them to fail in many ventures
B. Someone could persist in pursuing a failed policy despite overwhelming evidence of the failure
C. Bad decisions can be made because people will act without pausing to see whether their intuition is correct or not
D. Some people may wrongly believe in their forecasting ability to predict future outcomes of risky investments
A. Some people cannot correct a personal trait that might be causing them to fail in many ventures
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A farmer who has fixed amounts of land and capital finds that total product is 24 for the first worker hired; 32 when two workers are hired; 37 when three are hired; and 40 when four are hired. The farmer's product sells for $3 per unit and the wage rate is $13 per worker. The marginal revenue product of the second worker is
A. $24. B. $8. C. $9. D. $15.
Z is a normal good. The equilibrium price and quantity of Z in the year 2011 was $25 and 60 units, respectively. In 2014, the equilibrium price of Z had increased to $35 and the equilibrium quantity had increased to 70 units
Other things remaining the same, which of the following could explain this change? A) Shift of the supply curve of Z to the left B) Shift of the supply curve of Z to the right C) Shift of the demand curve for Z to the left D) Shift of the demand curve for Z to the right
Why does the marginal benefit curve have a negative slope?
What will be an ideal response?
Why is the budget line negatively sloped?
What will be an ideal response?