In the context of a roulette wheel, gambler's fallacy refers to the belief that:
A) outcomes of a gamble are mostly repetitive.
B) winners in a gamble lose the next round.
C) outcomes of a gamble tend to avoid repeats.
D) winners in a gamble continue to win in streaks.
C
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In economics, the optimal level of pollution is the level for which the net benefit from reducing the pollution is the greatest
Indicate whether the statement is true or false
If low-quality workers are unable to obtain a college degree, then a separating equilibrium can occur if
A) the cost of obtaining a degree is less than the wage premium paid to those who have obtained the degree. B) the cost of obtaining a degree is greater than the wage premium paid to those who have obtained the degree. C) the cost of obtaining a degree is zero. D) the wage premium paid to those who have obtained the degree is positive.
Calculate the firm's total profit.
Diminishing returns to physical capital suggests that
What will be an ideal response?