Behavioral economics assume that people are:
A. Eager to, and capable of, estimating the benefits and costs of their decisions
B. Very much aware of their preferences and are consistent in their preferences
C. Prone to falling prey to temptation because they lack sufficient willpower
D. Always focusing on their self-interest and maximizing their own net benefits
C. Prone to falling prey to temptation because they lack sufficient willpower
You might also like to view...
The impact of an increase in oil prices stemming from the growth of demand is probably going to ____ the wages of petroleum engineers
a. decrease b. increase c. leave unaffected d. be impossible to predict
Which of the following is an example of menu costs?
a. deciding on new prices b. printing new price lists c. advertising new prices d. All of the above are examples of menu costs.
Sellers in a monopolistically competitive market may be regarded as “monopolists” of their ______.
a. average costs b. advertising c. trade networks d. own brands
A "rational terrorist" will react to the increased security at U.S. airports by
A. attacking U.S. airports. B. attacking other targets that are as visible but less defended. C. attacking other highly-defended targets. D. ending all attacks.