Because heuristics appear to be hardwired into the brain, the consequences include the following, except:
A. It is sometimes difficult for people to correct detrimental behaviors or routines
B. People may be vulnerable to others who understand their hardwired tendencies
C. Heuristics make people consistently behave in a rational manner
D. People may make behavioral changes if they're exposed to a situation where a heuristic kicks in and starts driving their decision
C. Heuristics make people consistently behave in a rational manner
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Graphically, producer surplus is the area below the price line and above the supply curve
a. True b. False Indicate whether the statement is true or false
The output losses from an adverse inflation shock are ________ and the output losses from a fall in potential output are ________.
A. large; small B. small; large C. temporary; permanent D. permanent; temporary
Graphically, the market supply curve is obtained by
A. horizontally summing quantity supplied at various prices for individual producers. B. vertically summing quantity supplied at various prices for individual producers. C. a change in quantity supplied. D. changing the ceteris paribus conditions.
Explain how Steve Jobs was able to make an economic profit with his company, Apple Computers
What will be an ideal response?