The tendency of people to misjudge, at the present time, what they will want to do or have at some future time is called:
A. Time inconsistency
B. Mental accounting
C. Anchoring
D. Framing
A. Time inconsistency
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If a firm has a total cost of $150 and a variable cost of $100 for producing 5 units of output, then the fixed cost is:
a. $35. b. $50. c. $250. d. $100.
Consider the above figure. The curve shown is sometimes referred to as
A) the Laffer curve.
B) the Ricardian curve.
C) the Keynesian curve.
D) the Phillips curve.
The ranking of industries by the four-firm concentration ratio usually, but not always, reveals the same pattern as ranking by HHI. When a discrepancy is found it is usually due to the following:
A. The two indices are designed to measure two different attributes of markets. B. The four-firm concentration index contains data on only the largest four firms, while the HHI is based on data for all firms in the industry. C. The HHI is based on squared market shares, while the four-firm concentration ratio is not. D. The four-firm concentration index contains data on only the largest four firms, while the HHI is based on data for all firms in the industry and the HHI is based on squared market shares, while the four-firm concentration ratio is not.
What is a pollution haven, and is there evidence that pollution havens exist?
What will be an ideal response?