--%>

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 : Define demand with market supply and

    When technological advances boost market supply and total revenue both within an industry, in that case: (w) demand is relatively price elastic. (x) the industry is dominated by a monopoly. (y) patenting technological advances ensures

  • Q : Increase profits of quantity selling by

    When a monopolist was selling a quantity which marginal revenue [MR] is greater than marginal costs [marginal costs [MC] in that case this could increase profits by: (w) raising price. (x) increasing output. (y) raisi

  • Q : Problem on market demand for toys

    Booming toy sales throughout December usually reflect rises in: (1) The quantity of toys demanded.  (2) Market demand for toys. (3) Production costs. (4) Infantile consumerism. Can someone please help me in finding out the acc

  • Q : Positively sloped long run industry

    A purely competitive industry produces a positively-sloped long-run industry supply curve when the industry: (i) includes only firms which experience diseconomies of scale. (ii) is an increasing cost industry. (iii) experiences technological advances

  • Q : Experiencing the Economies of Scope A

    A soft drink bottler which finds it cost efficient and gainful to deliver the chips and other snack foods all along with cola would be experiencing: (i) Economies of scope. (ii) Positive psychic income. (iii) Economies of scale. (iv) Economies of structure. (v) Diseco

  • Q : Process of Capitalization

    Capitalization is a process which converts: (1) natural resources into economic capital. (2) predictable income flows within wealth. (3) the opportunity cost of capital into the market interest rate. (4) financial capital into economic investment. (5)

  • Q : Absolute value of price elasticity of

    The absolute value of price elasticity of demand is generally greater when there: (w) are fewer uses for the good. (x) is more time permitted for buyers to adjust. (y) are fewer substitutes for the good. (z) is a lower elasticity of s

  • Q : Elasticity of supply when product

    Since the supply of land is fixed, then the: (w) demand for land is absolutely horizontal. (x) supply of land is completely elastic. (y) demand for land is absolutely vertical. (z) supply of land is perfectly inelastic.

    Q : Problem on Minimum Wage Laws The

    The Minimum wage legislation is UNLIKELY to aid: (i) Skillful workers who compete with untrained workers. (ii) Untrained workers who don’t lose their jobs. (iii) Buyers of goods which are more capital intensive associative to the buyers of labor intensive goods.

  • Q : State excess demand or inflationary gap

    State excess demand or inflationary gap: Excess demand takes place whenever AD is bigger than AS at the level of full employment equilibrium.