OPEC has had a sustained effect on the price of oil since it was first founded in 1960

In Homer's Odyssey, Odysseus instructs his crew members to tie him to the mast of the ship so that he is not later tempted by the Siren's song. Which of the following irrational behaviors was he trying to avoid? a. People are overconfident

b. People behave in a time inconsistent manner. c. People give too much weight to a small number of vivid observations. d. People are reluctant to change their minds.

A residual demand curve:

A. shows the relationship between the market price and the quantity demanded by consumers at each price. B. shows the relationship between a firm's output and the market price given the prices charged by the firm's rivals. C. shows the relationship between a firm's output and the market price given the outputs of the firm's rivals. D. shows the remaining demand for a good after a firm's rivals have sold their output.