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Answer
a little late but the answer on edg2020 is C. $109
Explanation:
Answer:
The correct answer is letter "E": anchoring and adjustment heuristic.
Explanation:
Anchoring-and-Adjustment heuristics refers to estimations made by individuals according to certain information that come to their minds that are adjusted until an acceptable level of accuracy is reached. The latter is the cause of this practice to be inefficient because it is based on finding one optimal level of accuracy only without looking for others that could provide more proper results.
The phase of the business cycle at which real domestic output is at a minimum during a cycle is called the trough
This is further explained below.
<h3>What is
the business cycle?</h3>
Generally, The term "business cycle" refers to the persistent upswings and downswings in broad indices of economic activity, such as production, employment, income, and sales.
Business cycles may last for a number of years. The expansionary and contractive stages of the business cycle are the phases that alternate with the other.
In conclusion, The trough is the point in the economic cycle that marks the point at which real domestic production has fallen to its lowest point during that particular cycle.
Read more about the business cycle
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complete question
The phase of the business cycle where real domestic output is at a minimum is called:
A. the peak.
B. a recession.
C. the trough.
D. the pits.
Answer:
Explanation:
In a market economy, resource allocation is determined by the supply and demand forces. In other words, the allocation of resources is decided using the price mechanism.
The resource allocation in a planned economy, on the other hand, is determined by a government or a central authority. In other words, the central authority decides the quantity to be produced, the method of production, and the target consumer to whom the production is targeted.