Herbert Simon has concluded that decision making in industry is often best described as

The text compares two studies on the profitability of slavery: one by Phillips and the other by Conrad and Meyer. The main reason for the difference in their results is:

a. Phillips failed to account for the effect of productivity gains in the concerned period. b. Conrad and Meyer had better data on slave prices. c. Conrad and Meyer used data from both northern and southern farms. d. Phillips assumed that cotton prices were falling during the antebellum period.

The debate over whether advertising serves a valuable purpose in society is definitively answered by economists who study the tastes and preferences of individuals

a. True b. False Indicate whether the statement is true or false