By studying the effects of choice architecture, we can:
A. expand the simplifying assumption that people always make the choices that are best for themselves.
B. blend the ideas of psychology with core economic beliefs.
C. open the possibility that we can no longer tell if someone is making a mistake or choosing something that is maximizing his utility.
D. All of these statements are true.
D. All of these statements are true.
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Given the production function q = 4L + K, what is formula for the marginal product of labor?
A) 4 B) 4 + K C) 4K D) Cannot be determined with the information given.
Various executive compensation plans have been employed to motivate managers to make decisions that maximize shareholder wealth. These include:
a. cash bonuses based on length of service with the firm b. bonuses for resisting hostile takeovers c. requiring officers to own stock in the company d. large corporate staffs e. a, b, and c only