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Author Question: Assume that a cargo ship carrying the merchandise of a cloth merchant has been wrecked. Such a ... (Read 37 times)

DyllonKazuo

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on: Jun 30, 2018
Assume that a cargo ship carrying the merchandise of a cloth merchant has been wrecked. Such a setback will be accounted as the merchant's:
 a. sunk cost.
  b. deadweight loss.
  c. marginal cost.
  d. opportunity cost.

Question 2

_____ is the understanding that perfect information is not likely to be available, and that as a result, people make decisions that in hindsight look irrational, but in reality are the rational results of a brain that is economizing.
 a. Reasoning
  b. Parametric determinism
  c. Rational ignorance
  d. Bounded rationality
  e. Dynamic inconsistency


owenfalvey

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Reply #1 on: Jun 30, 2018
Answer to Question 1

A

Answer to Question 2

d


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