A decision maker should use subjective probability rather than objective probability
A. if solid data describing the frequencies of various outcomes are available.
B. if available data are unlikely to describe the circumstances.
C. if one of the outcomes were very desirable.
D. if she were very enthusiastic about a project.
B. if available data are unlikely to describe the circumstances.
Economics
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The term "price supports" refers to a
a. shortage. b. surplus. c. price ceiling. d. price floor.
Economics
Imports ________ society's total surplus because of the ________ in price and ________ in consumption
A) increase; rise; increase B) increase; rise; decrease C) decrease; fall; increase D) decrease; fall; decrease E) increase; fall; increase
Economics