Elijah, a basketball fan, reasons that because his favorite team has three superstars on it, the team must be a great team and will win the championship. Elijah is committint the
a. fallacy of composition
b. fallacy that association is causation
c. fallacy of segmentation
d. mistake of ignoring secondary effects
e. mistake of ignoring the obvious
A
Economics
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Which of the following is an example of peak-load pricing?
A) Charging less for vacations to Hawaii during December and January B) Charging more for electricity on hot days C) Setting price equal to marginal cost when there is a capacity constraint D) Selling excess capacity at lower prices
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Increases in stock market wealth have caused Americans to increase their saving rate
a. True b. False Indicate whether the statement is true or false
Economics