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
A Female Mouse Carrying a Pup
In this cartoon, Boss Tweed welcomes cholera—a skeletal figure of death carrying a handbag from “Asi
Who's carrying who?
J. M. W. Turner, Ship in a Storm, from the Little Liber
One version of a bump cap is a molded plastic insert worn inside a regular cloth cap.
Myosin V and kinesin I work together to deliver cargo