The majority of Americans, when asked how many states they could name, think they could name all fifty. However, when they are asked to do so, very few are able to come up with all fifty. This is an example of which systematic mistake that people make?

Behavioral economics is the study of situations in which people make rational choices

Indicate whether the statement is true or false

Selling the same product under different brand names allows a firm to price discriminate as long as

A) customers know the products are identical. B) customers do not know the products are identical. C) the products really are not the same. D) the firm lets customers know that the products are identical.