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Question
Victor complains that he never has enough time to do his homework. He brags that he has won 96 percent of 4,000 games of FreeCell this semester. Which of the following economic concepts of behavior is applicable?
a. rational
b. irrational
c. bounded rational
d. limited reasoning
e. preference reversal
Answer
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Related questions
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The economic entity most likely to engage in price gouging is
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Q:
What is the long-run consequence of a price ceiling law?
a. A surplus will continue to exist and will grow larger over time.
b. A surplus will continue to exist and will grow smaller over time.
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Q:
Suppose Solomon lives in a community with no price controls. What do you expect will happen if his town borders a community where there is a binding price ceiling on most products?
a. Prices in the legal market in the community with a binding price ceiling will rise.
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Q:
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Q:
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