Which of the following is an example of a concept from behavioral economics?
a. compartmentalizing
b. the endowment effect
c. behavior based on perceived fairness
d. all of the above
d
Economics
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A firm's demand for labor is downward sloping because of
A) diminishing marginal productivity of labor. B) diminishing marginal utility. C) price pressure. D) workers' increased willingness to work at a higher wage.
Economics
When economies of scale exist:
a. per unit production costs increase as output expands b. per unit production costs decline as output expands. c. marginal cost must decrease as output expands. d. per unit production costs remain constant as output expands.
Economics