Author Question: According to a behavioral economist, people who are unwilling to sell the last pound of rice they ... (Read 74 times)

rosent76

  • Hero Member
  • *****
  • Posts: 516
According to a behavioral economist, people who are unwilling to sell the last pound of rice they purchased for the same price that they paid for it are displaying ________.
 
  A) the endowment effect
  B) bounded rationality
  C) bounded self-interest
  D) bounded will power

Question 2

In the long run, which of the following is present in a perfectly competitive market?
 
  A) barriers to entry
  B) many firms in the market
  C) firms incurring an economic loss in the long run
  D) firms making an economic profit in the long run



Kjones0604

  • Sr. Member
  • ****
  • Posts: 327
Answer to Question 1

A

Answer to Question 2

B



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

Sperm cells are so tiny that 400 to 500 million (400,000,000–500,000,000) of them fit onto 1 tsp.

Did you know?

By definition, when a medication is administered intravenously, its bioavailability is 100%.

Did you know?

Tobacco depletes the body of vitamins A, C, and E, which can result in any of the following: dry hair, dry skin, dry eyes, poor growth, night blindness, abscesses, insomnia, fatigue, reproductive system problems, sinusitis, pneumonia, frequent respiratory problems, skin disorders, weight loss, rickets, osteomalacia, nervousness, muscle spasms, leg cramps, extremity numbness, bone malformations, decayed teeth, difficulty in walking, irritability, restlessness, profuse sweating, increased uric acid (gout), joint damage, damaged red blood cells, destruction of nerves, infertility, miscarriage, and many types of cancer.

Did you know?

In the United States, an estimated 50 million unnecessary antibiotics are prescribed for viral respiratory infections.

Did you know?

Fatal fungal infections may be able to resist newer antifungal drugs. Globally, fungal infections are often fatal due to the lack of access to multiple antifungals, which may be required to be utilized in combination. Single antifungals may not be enough to stop a fungal infection from causing the death of a patient.

For a complete list of videos, visit our video library