Author Question: Private information is a situation in which A) two parties to an exchange have information that ... (Read 71 times)

ap345

  • Hero Member
  • *****
  • Posts: 537
Private information is a situation in which
 
  A) two parties to an exchange have information that is available to outsiders if they ask.
  B) one party to an exchange has information that is not available to the other.
  C) the marginal cost of a person's obtaining additional information is zero.
  D) the marginal cost of making information available to one more person is zero.

Question 2

If Sean thinks that the choice between going to Olive Garden or Red Lobster is simply too confusing, a behavioral economist will explain that Sean is showing ________.
 
  A) the endowment effect
  B) bounded rationality
  C) bounded self-interest
  D) bounded will power



janeli

  • Sr. Member
  • ****
  • Posts: 346
Answer to Question 1

B

Answer to Question 2

B



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

No drugs are available to relieve parathyroid disease. Parathyroid disease is caused by a parathyroid tumor, and it needs to be removed by surgery.

Did you know?

There are 20 feet of blood vessels in each square inch of human skin.

Did you know?

Earwax has antimicrobial properties that reduce the viability of bacteria and fungus in the human ear.

Did you know?

ACTH levels are normally highest in the early morning (between 6 and 8 A.M.) and lowest in the evening (between 6 and 11 P.M.). Therefore, a doctor who suspects abnormal levels looks for low ACTH in the morning and high ACTH in the evening.

Did you know?

Asthma attacks and symptoms usually get started by specific triggers (such as viruses, allergies, gases, and air particles). You should talk to your doctor about these triggers and find ways to avoid or get rid of them.

For a complete list of videos, visit our video library