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1-Which of these statements best fits how a behavioral economist might view a situation?
1-Which of these statements best fits how a behavioral economist might view a situation?
If you lost $20 today but then found $20 later on, you feel neutral because it's as if you never lost anything at all.
Dollars are fungible, or have equal value to the individual, regardless of the situation.
If you find $100 on the street, you will be more likely to spend if freely than you would be to take $100 out of your bank account.
2-Excess supply occurs when the actual price in some market is ________ the equilibrium price.
below
unrelated to
equal to
3-Marginal cost is
options:
the only thing necessary to consider for making rational decisions.
on average, what each unit of output costs to produce or obtain.
the extra cost of buying a group of items
the cost of obtaining or producing one more unit of something.
