According to behavioral economics, the difficulty among many people to stick to a diet or an exercise plan is partly explained by:
A. Myopia
B. Mental accounting
C. Anchoring
D. Framing
A. Myopia
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Refer to Figure 4-3. If the market price is $3.00, what is the consumer surplus on the first ice cream cone?
A) $0.50 B) $1.00 C) $5.50 D) $9.00
Consider the market for iPods. What happens if a fantastic new alternative MP3 player is developed and at the same time a boat carrying a large shipment of iPods is attacked by pirates and sunk?
What will be an ideal response?
?Kites /hourSnowboards /hourJesse81April123
Consider two individuals, Jesse and April, who hand paint kites and snowboards. Table 18.1 shows how much of each good Jesse and April can paint in one hour. Jesse's opportunity cost of painting one snowboard is painting:
A. 1/8 of a kite. B. 1.5 kites. C. 8 kites. D. 12 kites.
Because the demand for the matinee showing is ________________ elastic than the demand for the evening showing, the demand curve for matinees is _______________ than the demand for evening movie showings.
a. less, steeper b. less, flatter c. more, flatter d. more, steeper