Jan is a hyperbolic discounter. She puts weight 1 on utility earned in the current period but only weight .5 on utility earned in future periods. In period 1 she comes up with a plan, which involves taking some action that leads to a loss of C utils in period 2 but provides a benefit of B utils in period 3 . What values of B and C will lead her to behave inconsistently and not follow through on

Suppose that you lend $1,000 to a friend and he or she pays you back one year later. What is the opportunity cost of lending the money?

A) the nominal interest rate that would have been earned on the money B) There is no cost. C) the implicit cost of the money D) the real interest rate that would have been earned on the money

When large oligopolistic firms negotiate with the unions of their employees, the resulting bargaining process closely resembles

a. perfect competition. b. a dual labor market. c. monopolistic competition. d. bilateral monopoly.