People often make economic decisions they later regret, which shows
A) they failed to acquire additional information up to the point where expected marginal benefit equals expected marginal cost.
B) they failed to behave rationally.
C) they failed to invest as much as they ought to have invested in information.
D) none of the above.
D
You might also like to view...
The above figure depicts the market for video games. If the government imposed a $3 per game tax on sellers, what would be the new equilibrium price paid by consumers after the tax?
A) less than $27 per game B) $27 per game C) more than $27 per game. D) More information is needed to determine if the price is more than, less than, or equal to $27 per game.
A firm's labor demand curve is also its marginal revenue product curve. For both the perfectly competitive firm and the output price maker, the labor demand curve slopes downwards
However, there is a difference in the reasons why the labor demand curve slopes downwards. What is this difference?