What are the consequences of present bias? (select all correct answers) Question 1 options: Take less risks today Under saving More willing to take risks Procrastination Time inconsistency
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- Wrong answer will be disliked4.6 Question 12Prompt- Questions 1 through 6 will ask you to consider the market for antibiotics. On November 23, 2022, the New York Times published a story titled “Flu and R.S.V. Hit the Holidays, Heightening Demand for Antibiotics and Antivirals”. You do not have to read the story to understand the setup of these questions. Please, carefully read each question to understand when these changes are introduced into the initial scenario. Here is what you should focus on to complete your analysis. For this analysis, assume the antibiotic market is perfectly competitive, demand is downward-sloping, supply is upward-sloping, and production technology results in traditional U-shaped MC, ATC, and AVC Finally, for all questions, assume market price is always greater than the minimum of the AVC You will be using the same graph in all questions that require a graph (Questions 1, 3, and 5), with each question asking you to add new elements to the graph as part of your analysis. QUESTION 1- Assume that…
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