This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: What is meant by the present bias? What will be an ideal ... (Read 111 times)

stephzh

  • Hero Member
  • *****
  • Posts: 556
on: Jun 29, 2018
What is meant by the present bias?
 
  What will be an ideal response?

Question 2

Refer to Table 6-2. Assume that an economist has estimated the price elasticity of demand values in the table above. Use the data in the table to select the correct statement.
 
  A) The difference in elasticity values is explained by the fact that the more narrowly we define a market the more elastic the demand will be.
  B) There are fewer substitutes for All carbonated soft drinks than there are for All soft drinks.
  C) The elasticity for All soft drinks is less than the elasticity for Coca-Cola because Coca-Cola is more of a luxury than a necessity; All soft drinks represent goods that are more necessity than luxury.
  D) The demand for Coca-Cola is inelastic.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Zebsrer

  • Sr. Member
  • ****
  • Posts: 284
Reply #1 on: Jun 29, 2018
Answer to Question 1

The present bias suggests that today is more important than the future. The weight you put on tomorrow is the same as the weight you put on the day after tomorrow. For you, all of the future days are roughly alike. It is today that is most important.

Answer to Question 2

A


stephzh

  • Member
  • Posts: 556
Reply 2 on: Jun 29, 2018
Gracias!

Dominic

  • Member
  • Posts: 328
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

Lower drug doses for elderly patients should be used first, with titrations of the dose as tolerated to prevent unwanted drug-related pharmacodynamic effects.

Did you know?

Stroke kills people from all ethnic backgrounds, but the people at highest risk for fatal strokes are: black men, black women, Asian men, white men, and white women.

Did you know?

In the United States, there is a birth every 8 seconds, according to the U.S. Census Bureau's Population Clock.

Did you know?

A good example of polar molecules can be understood when trying to make a cake. If water and oil are required, they will not mix together. If you put them into a measuring cup, the oil will rise to the top while the water remains on the bottom.

Did you know?

Hypertension is a silent killer because it is deadly and has no significant early symptoms. The danger from hypertension is the extra load on the heart, which can lead to hypertensive heart disease and kidney damage. This occurs without any major symptoms until the high blood pressure becomes extreme. Regular blood pressure checks are an important method of catching hypertension before it can kill you.

Although average brain size increases gradually though time in H. erectus, individuals with small br Although average brain size increases gradually though time in H. erectus, individuals with small br
High rates of rural poverty have been a part of the United States from its origin to the present. ... High rates of rural poverty have been a part of the United States from its origin to the present. ...
The Number of Children Americans Think Are Ideal The Number of Children Americans Think Are Ideal
How to calculate present value (Question 1) How to calculate present value (Question 1)
How to calculate present value using the compound interest formula (Question 1) How to calculate present value using the compound interest formula (Question 1)
Drugs and Publication Bias Drugs and Publication Bias
Video: Introduction to Dysrhythmia

For a complete list of videos, visit our video library