Which of the following sentences, based on the findings of neuroeconomics, is true?
a. Logical decision-making takes place in the limbic system.
b. Emotional decision-making takes place in the prefrontal cortex.
c. The prefrontal cortex confuses the logical side of the brain by bringing in emotions, and in some cases it takes over and demands immediate gratification.
d. Adults have greater activity in their frontal lobes and lower activity in their amygdala than do teenagers.
e. The amygdala takes a long-term perspective on the decision-making, looking at logical cost-benefit comparisons.
d
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Total revenue for a seller represents the amount that:
a. sellers receive for a good or service which is computed as P ÷ Q. b. sellers receive for a good or service which is computed as P Q. c. one buyer spends on a good or service which is computed as P Q. d. one buyer spends on a good or service which is computed as P ÷ Q.
The school of engineering at a modern university would be a supporter of the new
a. consumption theory. b. growth theory. c. monetary theory. d. construction theory.
Which of the following shows the feasible combinations of two goods that a consumer could afford given her money income?
A. the budget constraint B. the indifference map C. the price consumption curve D. the income consumption curve
A monopoly sells 5 units of output at $20. If the MR of the 6th unit is $14, then the price of the 6th unit is
A. greater than $20. B. $19. C. also $14. D. $17.