--%>

Consequence of Rational Ignorance

Can someone help me in finding out the right answer from the given options. Being disappointed whenever you finally learn how some desserts are accessible after you have already told the server at a restaurant that you will try the ‘all-you-can-eat’ buffet is the consequence of: (i) Adverse selection. (ii) Moral hazard. (iii) Economic dishonesty. (iv) Blind indifference. (v) Rational ignorance.

   Related Questions in Microeconomics

  • Q : Equilibrium price in short run The

    The equilibrium prices for cranberries within the short run of: (w) P1. (x) P2. (y) P3. (z) P4.

    Q : Calculating economic profit Assume that

    Assume that you earn an annual salary of $25,000. You too have $10,000 in savings which earns $1,000 per year in interest. Now assume that you quit this job to open your own business and spend all your savings in the latest business. In the primary year, you take in r

  • Q : Compute Gini Index The areas

    The areas illustrates in this Lorenz diagram can be used to compute a Gini index as: (i) (cow + pig)/cow. (ii) cow2/(cow + pig).  (iii) pig2/(cow + pig). (iv) cow/(cow + pig) (v) (cow + horse)/pig.

    Q : Product differentiation through

    Firms are not only trying to differentiate their products within the minds of consumers while: (1) main networks launch comparable programs to mimic successful “reality TV” shows. (2) beer advertisers feature wild parties in TV advertisements. (3) a deterg

  • Q : Voluntary Poverty and Involuntary

    Families or individuals experience involuntary poverty while they: (w) cannot rise above the poverty line since they fail to qualify for transfer payments. (x) are laid off from work throughout a widespread recession or depression. (y) lack adequate r

  • Q : Proprietorships and corporations I have

    I have a problem in economics on Proprietorships and corporations. Please help me in the following question. Most of the firms in United States are organized as ________, however two-third of all gain is received by the _________. (1) Corporations; restricted partners

  • Q : Purely-competitive output by profit

    Profit is maximized when this purely-competitive brickyard constructs at: (i) point a. (ii) point b. (iii) point c. (iv) point d. (v) point e.

    Q : Income effect on leisure Can someone

    Can someone please help me in finding out the accurate answer from the following question. The individual’s labor supply curve is negatively sloped [that is, backward-bending] in the range of wages if the: (i) Demand for goods exceed the demand for leisure. (ii)

  • Q : Problem on competitive equilibrium of

    The economy consists of two consumers, A and B. Both consumers are endowed with one unit of good 1 and one unit of good 2. Consumer A is entirely indifferent between all consumption plans. Consumer B has the utility function u(xB1 ; xB

  • Q : Problem on Institutional frameworks I

    I have a problem in economics on Institutional frameworks. Please help me in the following question. The Institutional frameworks in which the transactions take place are: (1) Money mills. (2) Circular flows. (3) Barriers to entry. (4) Markets