Feature of behavioral economic model

Assignment Help Business Economics
Reference no: EM131163083

1. Which of the following is a possible criticism of the happy-is-productive model?

A. The roles attributed to managers under this model represented a new brand of elitism.

B. The economic interests of employees were inappropriately emphasized under this model.

C. The model is based on the assumption that firms operate in a market where there is fierce competition among firms.

D. The model proves to be expensive for a firm to execute.

2. Which of the following is a feature of a behavioral economic model?

A. It focuses on cognitive, emotional, and social factors that affect individual decisions.

B. It considers incentives an unimportant tool to study human behavior.

C. It suggests that individuals always behave rationally.

D. It is based on marginal analysis in decision making.

3. The ______ of an uncertain payoff is defined as the weighted average of all possible outcomes, where the probability of each outcome is used as the weights.

A. expected value

B. standard deviation

C. variance

D. skewness

4. If employees’ activities follow the economists’ view of behavior, managers will be most effective if they can

A. influence the costs and benefits of employee actions.

B. improve employee satisfaction with the job.

C. communicate goals and objectives effectively to their employees.

D. fire inefficient employees.

5. There is an increase in availability of alternative fuels through research and development. Which of the following correctly captures the effect of this change on the market for gasoline?

A. Both equilibrium quantity and price will increase.

B. Both equilibrium quantity and price will decrease.

C. Equilibrium quantity will increase, but equilibrium price will decrease.

D. Equilibrium quantity will decrease, but equilibrium price will increase

6. There is an OPEC cartel that reduces the production of world oil by several million barrels a day. Which of the following correctly captures the effect of this change on the market for gasoline?

A. Both equilibrium quantity and price will increase.

B. Both equilibrium quantity and price will decrease.

C. Equilibrium quantity will increase, but equilibrium price will decrease.

D. Equilibrium quantity will decrease, but equilibrium price will increase.

Reference no: EM131163083

Questions Cloud

Other policy alternatives such as gasoline tax : The state and local government heavily subsidizes MARTA in an attempt to keep the costs of ridership low. Provide an economic argument as to why the government would want to provide such a subsidy. Be sure to discuss the cost effectiveness of this vi..
Financial impact of spending additional money : What would be the financial impact of spending this additional money on advertising for the month of February (28 days)?
Readiness for developing and implementing change : Journal Post: Identify ways to assess an organization's readiness for developing and implementing change by establishing groundwork for team projects. For each journal post throughout the course you will be expected to discuss the following:
Find the final temperature of the filament : If the temperature coefficient of resistivity of the filament is 0.0045 (oC)-1 and the resistivity increases linearly with temperature, find the final temperature of the filament.
Feature of behavioral economic model : Which of the following is a possible criticism of the happy-is-productive model? Which of the following is a feature of a behavioral economic model? If employees’ activities follow the economists’ view of behavior, managers will be most effective if ..
What price should the company charge : The Synergy Company uses cost-plus pricing with a 50% mark-up. The company is currently selling 100,000 units at $12 per unit. Each unit has a variable cost of $6. In addition, the company incurs $200,000 in fixed costs annually. If demand falls t..
What is the shape of this curve : What conclusions can you draw about the material requirements of manufacturing small spherical lenses for use in personal electronic devices?
Write a paper about king tutankhamen : Write a paper about King Tutankhamen, Nefertiti, Queen Hatshepsut, Any specific pharaoh, The Sphinx, Mummification and The Pyramids of Giza.
Comparison of the three methodologies : Write a substantive 2000 word Word Doc comparison of the three methodologies below using at least 3 tables with each table comparing the three methodologies in one or more domain.  Word count is in addition to words used in table.

Reviews

Write a Review

Business Economics Questions & Answers

  Rationale and efficiency effect of strategies

Identify the exclusionary pricing practices and why and when they are prohibited by the Competition Act. What are the economics rationale and efficiency effect of these strategies?

  What is the price elasticity of demand

A west main street massage school is offering college students a discount for massages. Their normal prices were $60 for 60 minutes, and they typically booked 30 massages a week at that price. The past week when they offered the same 60 minute massag..

  What describe the price at which trade takes place

Do opportunity cost play a role in people's decision to specialize in certain activities. What describe the price at which trade takes place.

  Explain is there nash equilibrium in this game

Elucidate what does either player have a dominant strategy. Explain is there Nash equilibrium in this game.

  What should the manager do

the firm will earn $15,000 if it introduces the new product, and revamping the production facilities will earn new profits of $60,000. What should the manager do.

  Frequent large price changes as are markets

The market for autographs including letters o other documents signed by famous people is subject to frequent large price changes as are markets for most collectables.

  What is the uniform annual payment

What is the uniform annual payment for 12 years is equivalent to the above payment if the interest rate is 8%?

  How much output will the leader company produce

2 companies are competing for output. The leader firm knows the market demand to be P=1200-Q. The demand for the other company is Q2=400-0.5Q1. Both companies are have marginal cost $200. How much output will the leader company produce?

  Suppose that instead of using fiscal policy

Suppose that the government wants to stimulate GDP using fiscal policy, for example by raising G from 2,500 to 3,000. How does this affect your IS and LM curves? Suppose that instead of using fiscal policy, G remains constant at 2,500, but the money ..

  How is product differentiation source of market power

How is product differentiation a source of market power? Your answer should reference at least one, if not more, of the market models. Additionally, explain how persuasive advertising can create market power.

  Affect consumer surplus and producer surplus in both markets

Suppose PlayStations and PlayStation games are complementary goods. Now there is a technological advance in the production of PlayStations. Use a supply/demand diagram of PlayStations market and a supply/demand diagram of PlayStation games market to ..

  Find an article that shows the use of money

Find an article (newspaper, magazine, or online) that shows the use of money. Your article shows money performing (or failing to perform) at least one of the following functions: (a) medium of exchange, (b) store of value, or (c) standard of value. W..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd