Because heuristics appear to be hardwired into the brain, the consequences include the following, except:
A. It is sometimes difficult for people to correct detrimental behaviors or routines
B. People may be vulnerable to others who understand their hardwired tendencies
C. Heuristics make people consistently behave in a rational manner
D. People may make behavioral changes if they're exposed to a situation where a heuristic kicks in and starts driving their decision
C. Heuristics make people consistently behave in a rational manner
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The figure above shows the market for private elementary school education in Chicago. There is no external cost of private elementary education
If the government does not intervene in this market, the equilibrium number of students being privately educated is ________ and the efficient quantity is ________. A) 0 students; 400 students B) 400 students; 400 students C) 400 students; 600 students D) 600 students; 400 students E) 600 students; 600 students
The payments to the factors of production are:
A) wages. B) rent. C) rent and interest. D) wages, rent, interest, and profits.