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Kisachek [45]
3 years ago
11

Behavioral economists attribute some consumer behavior to the endowment effect. Which of the following is an example of the endo

wment​ effect? An example of the endowment effect isA. Being unwilling to sell a vase for a price that is greater than the price you would be willing to pay to buy the vase if you​ didn't already own it.B. Being unwilling to sell a painting that you already own.C. Being willing to will your descendents a car upon your death that you otherwise could have sold for a substantial price.D. Buying lottery tickets with an expected value that is less than their price.E. Taking into account nonmonetary opportunity costs such as the value of your time.
Business
1 answer:
tensa zangetsu [6.8K]3 years ago
3 0

Answer:

B. Being unwilling to sell a painting that you already own

Explanation:

Endowment effect is when individuals value things they own more highly than things they don't own. The endowment effect postulates that individuals are unwilling to exchange things they own for something else of equal value.

The amount people would be willing to accept in exchange for the good they own is usually very high compared to the true value of the object they own.

I hope my answer helps you.

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Last month unemployment fell to 4 percent, its lowest level in years. The economy is growing rapidly, but consumer prices have r
inysia [295]

Answer:

An increase in taxes.

Explanation:

A rise in the prices is indications that the inflation rate is high.  Policymakers should intervene by introducing contractionary measures that will counter the rising inflation. Fiscal policy measures, such as increasing taxes, reduce inflationary pressures without the risk of causing a recession.

Increase taxes reduces the purchasing power of businesses and individuals, thereby reducing the aggregate demand.  A reduction in aggregated demand lowers production levels, which results in low inflation but increases the unemployment rate.

6 0
4 years ago
What type of competition exists in the aviation sector? And why?
shtirl [24]

Answer:

Oligopoly market structure

Explanation:

The airline industry is characterized by an oligopoly market structure, a form of imperfect competition in which a limited number of firms dominate the industry. Oligopoly firms have market power in setting or altering prices for their products by establishing various output values.

8 0
3 years ago
Grain co-op, llc and hearty cereals, inc., discuss the terms of a contract for periodic deliveries of corn. grain faxes hearty a
pishuonlain [190]
The answer is "<span>Refer to Fact Pattern 16-1. Between Grain and Hearty, there is a</span><span> written contract".
</span>
An agreement is a verbal or written consent to do work in return for some advantage, for the most part an payment. A written contract is an agreement made on a printed record that has been marked by both the moneylender and the borrower. Composed contracts are lawfully official and less demanding to implement than oral contracts.
3 0
3 years ago
Marquis has a gross pay of $816. By how much will his gross pay be reduced if Marquis has the following items withheld?
Marysya12 [62]

Answer:

$174.66 which is d on edge

Explanation:

i studied very hard and i made a 100

7 0
3 years ago
An operation's Beginning Inventory for an accounting period equaled $15,000. Ending Inventory for the period equaled $14,000, Pu
kherson [118]

Answer:

$1,500

Explanation:

Data provided:

operation's Beginning Inventory = $15,000

Purchases = $21,500

Ending Inventory for the period = $14,000

Total Cost of Sales = $21,000

Now,

The amount of this operation's Employee Meals in the period

= Beginning Inventory + Purchases - Ending Inventory - Total Cost of Sales

= $15,000 + $21,500 - $14,000 - $21,000

= $1,500

3 0
3 years ago
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