I got this wrong. I chose option D. What is the correct one and why?

Q: Two players play the Ultimatum Game, in which they are to split $20.  A purely rational agent would…

A: Ultimatum game is defined by a game structure where there are two players proposer and responder.

Q: I need help in solving this question because I'm not sure it's right?

A: The United State federal government passed the American Recovery and Reinvestment Act in 2009 was to…

Q: Explain the role that is played by the three decision makers in the economy

A: The firm, the household, and the government are the three basic economic units that carry out…

Q: What is Reasonable Doubt?

A: Uncertainty/Doubt of ordinary convictions or a structure of thought can likewise open up new bits of…

Q: Why might the multiple-play ultimatum game have a different result than the single-play ultimatum…

A: Ultimatum game is a situation where people are more generous to give the benefit to other person due…

Q: Rational decision making requires that

A: Rational decision making requires what :

Q: Does the decision you choose turned out to be effective?how?

A: Effective decision : It is defined here as the process through which alternatives are selected and…

Q: Which of the following factors do rational actor consider LEAST? a. cost to the producer b. personal…

A: Rational choice theory: It refers to a theory in which individuals use rational calculations to make…

Q: Blair has vast riches and consumes thousands of dollars' worth of consumer goods each week, yet she…

A: It is a common phenomenon that the people with vast rich is also not satisfied with the consumption…

Q: What things do you consider when choosing whether to use communication or observation in your…

A: Communication - communication is the process of transferring information, ideas, and data from one…

Q: A tradeoff is illustrated by?

A: A trade off is the opportunity cost of a good. In other words, it is the next best alternative that…

Q: What we sacrifice, or give in return, when we make a decision or make a choice is: Response option…

A: Since the resources are scarce, there is a tradeoff between goods.

Q: Are options b through e correct or incorrect?

A: A price ceiling is the commanded most extreme amount a dealer is permitted to charge for a product.…

Q: . What is the benefit of something measured by what you are willing to give up?

A: Measuring the things which are going to be given up will help to compare the decisions, the cost and…

Q: Economics helps managers understand goal-oriented decision making.

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…

Q: Discuss it objectively

A: Through the movement of air in the atmosphere, the flow of water in rivers, and the migration of…

Q: Your mother loves books. From an economist's perspective, what is the best gift from the list below,…

A: The resources which are present with the economies tend to be limited in nature, while people have…

Q: It is often costly to obtain the information necessary to make good decisions. Yet, your own…

A: Rational decision makers need to make an informed decision as they are dependent on the resources…

Q: Explain in your own words what it means when an outcome is reliable?

A: Reliability is the another name of consistency.

Q: hich university you want to get admitted to you must have looked for information and then came to a…

A: Decision:The action or method of deciding for something; determination, as of an issue or doubt…

Q: Which statement of the following is true ?

A: The cost functions like AC,TC,AVC,AFC depicts the functional relationship between output and…

Q: Choose the best answer from the options below: If you and your friend take turns making decisions…

A: Here, it is given that two friends are making decision by taking turn on which movie to watch and in…

Q: need the answer as soon as possible

A: There are various measures that tell about the dispersion of a data set. One of the measures of…

Q: in what will happen to the

A:

Q: When people make a choice it is something the basis is more benefit than cost more useful to you…

A: "Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: What is the Decision Rule?

A: The decision rule is used extensively in statistical research, particularly in hypothesis testing. A…

Q: An important trade-off you’re recently faced Describe an incentive your parents offered to you in an…

A: Economics is all about tradeoffs. A tradeoff is loosely defined as any situation where making one…

Q: When individuals face viable alternatives, a) there is choice b) there is always cost c) A and B…

A: A choice or possible solution that might work is referred to as a viable alternative.

Q: You have a dozen shirts and your roommate has six pairs of shoes worth roughly the same amount of…

A:

Q: Many clothing stores purchased new fashions from clothing manufacturers back in the Fall, expecting…

A: Here the main concept is inventory management and scope of inventory because if the retailers keep…

Q: What amount of questioning (if any) should we have concerning our moral beliefs? are there…

A: Moral beliefs associated with the queries that what's correct per ethics and what's not correct.…

Q: What do you think of the ethics of using unconscious nudges to alter people’s behavior?

A:

Q: Does a nudge force people to make a better choice?

A: Th nudge theory is based on the behavioral science application in economics based on which the…

Q: Evaluate the following statements and identify if it falls on a positive or negative statement.…

A: Whereas Positive statement is based on facts and figures which can be tested and verified with given…

Q: How can an anticipated change affect a market players decision?

A: Anticipating decision of different players in the market and how will they react in a period of time…

Q: involves à specific policy alternative, because it uses subjective, ethical, or moral judgments in…

A: Behavioral Economics: Behavioral Economics can be defined as the study of the elements of Economics…

Q: Why might it be difficult for a buyer and seller to agree on a price when imperfect information…

A: Imperfect information is defined as the market scenario in which buyers and sellers are not at the…

Q: Explain traditional or behavioral economic beliefs

A: Traditional economy is a system in which economic decision are taken on the basis of custom,…

Q: Explanation is correctly

A: Mechanism design theory is a significant step forward in current economic understanding of…

Q: c) is the value of the next best alternative foregone in making a choice

A: Opportunity cost can be defined in simple words as, the letting the other options go for selecting…