Of the following cancer patients, who is speculating?
A) The one who follows their doctor's advice and elects chemotherapy
B) The one who goes against their doctor's advice and rejects chemotherapy
C) The one who gets a second opinion, but not a third opinion
D) All of the above.
E) None of the above.
D
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Marginal revenue product is the extra revenue the firm receives by hiring one additional unit of input
a. True b. False Indicate whether the statement is true or false
A car sells at different prices at different dealerships in an oligopolistic market. If a consumer has imperfect information about the price of a car at each dealership, he should
a. always gather all available information about prices. b. gather information about prices until the expected marginal utility of more information equals the marginal cost of gathering it. c. gather information about prices only if it can be gathered without cost. d. ignore information about prices because it is irrelevant to making an "optimally imperfect" decision.