Refer to Figure 9.7. After the policy was implemented, price became
A) $10.
B) $30.
C) $50.
D) $70.
E) between $50 and $70, but the price is uncertain because quantity can be any amount between 2000 and 4000.
C
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The lower Sunday and Saturday prices also result from the ability __________________ has given airlines to throw discounts in front of consumers at any time.
Fill in the blank(s) with the appropriate word(s).
Suppose your instructor gave hats with your school's logo to half of your economics classmates. She then asked these students to value the hats, and the average response was $9 per hat
Under the endowment effect, we should expect that the average value assigned by the economics students who did NOT receive the hats to be: A) higher. B) lower. C) the same. D) We cannot answer this question without knowing more about the risk preferences of the students.