--%>
Assignment Help - homework help

Problem on rational ignorance

An illustration of rational ignorance is demonstrated when you: (1) Are elected to a political office. (2) Settle for an other half who is not your "ideal" mate. (3) Eat a steak which increases your cholesterol level. (4) Were suspended from high school for mischief.

Can someone help me in getting through this problem.

   Related Questions in Microeconomics

  • Q : Profit-maximizing output to maximizes

    HoloIMAGine has patented a holographic technology which creates 3-D photography obtainable to consumers. So HoloIMAGine’s: (w) lowest possible average total cost arises at precisely the output where profit is maximized. (x) market supply curve is the same to its

    		•
  • Q : Demands and supplies of most goods

    Since longer time intervals are considered, then demands and supplies of most of the goods become: (i) Increasingly independent. (ii) Less subject to the adjustments through buyers and sellers. (iii) Flatter (that is, quantities adjust more fully to p

    		•
  • Q : Most likely resources in short run I

    I have a problem in economics on most likely resources in short run. Please help me in the following question. The most probable of the given resources to be fixed for the farmer in short run would be: (1) Land. (2) Labor. (3) Fertilizer. (4) All the above would be of

    		•
  • Q : Experiencing the economies of Scale Let

    Let assume that an auto manufacturer which can produce 10 cars at an average cost of $8000 per car. When the manufacturer enlarges output to 100 cars, then the average cost of production falls to $5000 per car. This firm is experiencing the: (1) Raised demand. (2) Eco

    		•
  • Q : Labor Unions Strikes-Lockouts Can

    Can someone please help me in finding out the accurate answer from the following question. Whenever unions and managements have failed to arrive at a collective bargaining agreement and management closes the production facilities to exert pressure on the union negotia

    		•
  • Q : Words of Johann H. von Thünen about

    The theory about land derives its value primarily by how much its location conserves on transaction costs is attributable to: (a) Johann H. von Thünen. (b) Adam Smith. (c) Richard Cantillon. (d) David Ricardo. (e) Reverend Thomas Robert (“B

    		•
  • Q : Featherbedding in the practice of hiring

    The summation of monopolistic exploitation across all the workers tends to raise however a firm as well operates at a more socially and economically proficient level of output and employment whenever the firm is capable to engage in: (m) Blacklisting in its dealings t

    		•
  • Q : Different forms of capital account

    Different forms of capital account transactions: A) Private Transactions: There are transactions which affect the liabilities and assets of individuals.

    Q : Absolute value of price elasticity of

    Moving by point a to point b to point c to point d to pint e beside demand curve D, then absolute value of the price elasticity of demand for DVDs video games is: (w) greater at lower prices than at higher prices. (x) constant and equal to minus one.

    		•
  • Q : Increasing equality in distribution of

    Increasing equality within the distribution of income or wealth is generally related with: (1) decreases in the population’s total amount of income or wealth. (2) lower values for the Gini coefficient. (3) greater overall curvat

    		•