Which of the following might explain the evidence of an endowment effect in behavioral economics?
A) government regulation
B) knowledge and experience
C) the federal tax code
D) class envy
B
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The rate-of-return regulated public utility has strong incentive to control cost
Indicate whether the statement is true or false
A monopolist is producing at an output level at which MR = $9 and MC = $8. It could increase profits
A) by increasing both output and price. B) by reducing output and by increasing price. C) by reducing both output and price. D) by increasing output and by reducing price.
The seven members of the Board of Governors serve 14-year terms to:
a. reduce political influence. b. provide steady employment. c. inhibit independent decisions. d. prevent illegal appointments.
The increase in two wage earning families in the U.S. has resulted in a substantial increase in the percentage of disposable income spent on
A. Food. B. Appliances and computers. C. Services and transportation. D. Luxury items.