A decision maker should use subjective probability rather than objective probability
A. if solid data describing the frequencies of various outcomes are available.
B. if available data are unlikely to describe the circumstances.
C. if one of the outcomes were very desirable.
D. if she were very enthusiastic about a project.
B. if available data are unlikely to describe the circumstances.
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According to the graph shown, producing 14 units:
A. is not as profitable as producing 11 units.
B. will earn negative profits.
C. will earn more profits than producing 9 or 11 units.
D. will earn zero profit.
A perfectly elastic supply curve
a. has an elasticity of 1 b. has an elasticity less than 1 c. has an elasticity of 0 d. is horizontal e. is upward sloping
When banks hold excess reserves because they don't see good lending opportunities, _____
a. contractionary monetary policy is negatively affected b. expansionary monetary policy is negatively affected c. expansionary monetary policy is unaffected d. contractionary monetary policy is unaffected
Explain why the amount that firms spend on advertising depends on the characteristics of their products
What will be an ideal response?