First of all, you dont have the answers.
But the answer is "Companies replaced hand-operated brakes with air brakes on trains" is the best answer because this stopped many of the fatalities that were caused by brake failures." which is I say on what you are using D
Is this actually a homework question or are you giving ur personal opinion here?
The tendency to overestimate the accuracy of our knowledge and judgments is called <u>Overconfidence</u>.
The overconfidence effect is a well-established bias in which subjective confidence in one's judgment is consistently greater than objective accuracy, especially when confidence is relatively high. Overconfidence is an example of subjective probability misadjustment.
Throughout the research literature, overconfidence is defined in three different ways by him. About the placement of one's performance in relation to others. Excessive accuracy in expressing undue confidence in the accuracy of one's beliefs.
The most common way to study overconfidence is to ask how confident you are about a particular belief or answer you hold. The data show that confidence systematically outweighs accuracy.
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In a Monopolistic Competition, each seller delivers a differentiated product which is easily different from its close substitutes. The two main features of Monopolistic Competition are development differentiation and selling expenses.
<h3>What is the connection between product differentiation and monopolistic competition?</h3>
monopolistic competition guides to a market where many firs sell differentiated products. differentiation can arise from aspects of the good or service.
<h3>Why is product differentiation required for monopolistic competition?</h3>
Product differentiation is necessary for monopolistic competition because sellers in monopolistic competitor gain their limited monopoly-like control by making a distinctive product or by convincing customers that their product is different than the competition.
To learn more about monopolistic competition, refer
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Answer:
I Agree
Explanation:
Following the advent of globalization, when information technologies changed the forms of consumption and production of economies, the competitive advantages of countries became more volatile. This is because technology is rapidly expanding and countries specialize faster, increasing competition. For example, until recently only US and Korean companies had the know-how to produce quality smartphones. However, not long ago, and very quickly, China began to produce high quality smartphones, changing the pattern of smartphone consumption around the world, previously dominated by the two major American and Korean companies.
