Author Question: The market for electricians in a small town might have a different structure than in a large city ... (Read 74 times)

vicotolentino · **on:** Jul 1, 2018

The market for electricians in a small town might have a different structure than in a large city because

A) cartels are legal in large cities but not in small towns.
B) the small town market can only support a few electricians.
C) unions are stronger in large cities than in small towns.
D) None of the above.

Question 2

A consumer is given the chance to buy a concert ticket for 50 and refuses. Later, that same consumer wins a free ticket to the concert.

When asked to sell that ticket for 50, the consumer refuses, indicating that he would rather use the ticket himself. This is an example of A) endowment effect.
B) salience.
C) framing bias.
D) irrational behavior.