(Figure: Interpreting Short-Run Cost Curves) The short-run supply curve begins where the ATC Price and Cost ($) 1.2 1.0 MC 0.8 0.6 0.4 0.2 AVC 0 0.2 0.4 1 0.6 Output 0.8 1 1.0 price is approximately $0.75. price is approximately $0.80. MC equals the minimum AVC. MC equals the minimum ATC. 1.2

Use the following figure to answer the question below. Corn 80 Production Possibilities Frontier A Point A in the figure above is B 00 80 Green Beans

Which of the following about emotional influence on decision making is true?     People generally make rational decisions that maximize desirable outcomes in the absence of emotions     Only emotions that are relevant to the decision at hand have any influence on that decision     People tend to overestimate their predicted negative emotions resulting from a decision's outcomes     People are equally angry about unfair offers in the ultimatum game from computers and from other human players

A new vaccine offers protection against otitis media. Administering the vaccine to 10,000,000 children under age 5 would reduce otitis media cases from 14,000,000 to 11,000,000. The vaccine costs $100 per patient. What is the cost per case avoided? Round your answer to the nearest unit. Enter a numeric value as a non-numeric value will be converted to 0 thus potentially making your answer wrong. Do not enter a comma or any other sign for the same reason. I

The small family company that you manage has invested $35,000 in developing a new product, but the development is not quite finished. At a recent meeting, your family company management team predicts that the introduction of competing products has reduced the expected sales of your new product to $30,000. If your company receives zero profit for an unfinished product, and if it would cost $10,000 to finish development and make the product, you go ahead and do so. The most your family company should spend to complete development is O should; $30,000 O should; $20,000 O should; $10,000 O should not; $0

How might imperfect information impact price? Group of answer choices Because buyers cannot determine the true quality of a product, they might tend to bid up the prices. Because they might not be able to present all the information about a product, sellers might temporarily lower the price to make potential buyers think the product is of excellent quality. Imperfect information might tend to cause prices to be perfectly elastic. Buyers cannot distinguish which goods have a higher quality and might be less likely to pay higher prices for that good.

Opportunity Cost a) never exists if there are alternatives. b) is irrelevant to rational choice c) is the value of the next best alternative foregone in making a choice d)never applies to government or public policy

What is loss aversion? Group of answer choices   The tendency to focus more on the loss than the gain.   The tendency of an individual to invest all of their resources to avoid losing.   The ability of humans to exercise complete self control in high stakes situations to avoid losing.   The temptation company’s face to invest in questionable techniques to avoid losing money.