When the government makes a firm the exclusive legal provider of a good or service, it grants the firm

What is one reason a gambler might bet $1,000 that a team that is ranked sixteenth will win the NCAA basketball tournament?

A) irrationality B) overconfidence C) exuberance D) gambler's fallacy

If the signaling theory of education is correct,

a. workers with more years of formal schooling will earn less than workers with fewer years of formal schooling. b. additional years of formal schooling do not increase a worker's productivity. c. workers with more years of formal schooling are less likely to be affected by ability, effort, and chance. d. men are more likely to earn more than women because men are more likely to have graduated from college.