Phillip owns some stocks of a pharmaceutical company. Of late, he is anticipating that the company will become bankrupt. He decides to find out more about the company's financial condition before selling the stocks
However, he tends to read only the blogs of investors who are expecting the company to become bankrupt. He soon makes up his mind and sells the stock just before its price reaches an all-time high. Phillips's behavior is an example of a(n) ________ bias. A) confirmation
B) attentional
C) attenuation
D) distinction
A
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________ increases the quantity of capital, and ________ decreases the quantity of capital
A) Depreciation; net investment B) Investment; saving C) Gross investment; net investment D) Net investment; gross investment E) Investment; depreciation
If minimum average cost is the same over a large range of output,
a. the market will evolve into a natural monopoly b. minimum efficient scale is large as well c. only a few large firms will survive in the long run d. smaller firms have a cost advantage over larger firms e. firms of varying sizes can coexist