--%>
Assignment Help - homework help

Uncertainty and Decision-making

I have a problem in economics on Uncertainty and Decision-making. Please help me in the following question. The error of omission would be: (i) The failure of an individual to invest in Microsoft 20 years ago. (ii) Individual cheating on a test. (iii) The decision by Ford to manufacture the Edsel. (iv) Individual’s decision to drink and drive.

Choose the right option from the above.

   Related Questions in Microeconomics

  • Q : Effect on total revenue by raises price

    A price raise from $6 to $8 would effect in: (1) a decrease in total revenue. (2) an increase in total revenue. (3) no change in total revenue. (4) consumers buying more pizza. (5) pizza parlors selling more pizza.

  • Q : Okun's Law Coefficient Is so Large Why

    Why the Okun's Law Coefficient Is so Large? Okun's Law posits not a 1-to-1 relation but a 2.5-to-1 relationship between real GDP growth and the unemployment rate. That is, a one percentage-point fall in the unemployment rate is associated not with a 1 but a 2.5 percent boost in the level of produ

    		•
  • Q : Scenario Analysis Based on the recent

    Based on the recent success of Ontario tennis star Milos Raonic, Nike Canada will make new state of the art tennis racket with a red maple leaf on the strings. Mike expects to sell 10,000 rackets yearly for the next 4 years. Each racket will retail at a manufacturer&r

    		•
  • Q : Maximize profits at fixed costs A

    A monopoly along with huge fixed costs but no variable costs will maximize profits where is: (w) the price elasticity of demand is vast. (x) total costs are minimized. (y) MR = MC = 0. (z) price minus average cost is maximized

  • Q : Equilibrium outputs in long-run entry

    Long-run supply curve of a purely competitive industry: (w) equals the horizontal summation of all firms’ short-run supply curves. (x) reflects equilibrium outputs after entry and exit respond completely to any shifts in demand. (y) declines as

    		•
  • Q : Location Rents in Economics Location

    Location rents are: (1) really just normal profits. (2) generated while customers bear lower transportation costs through buying from one firm over another. (3) economic interest on the capital improvements to land. (4) unrelated to population density

    		•
  • Q : Price elasticity of demand coefficient

    In this demonstrated figure, there the price elasticity of demand coefficient is: (1) one at the midpoint. (2) greater than one in range a. (3) less than one in range b. (4) falling along with movements down along the demand curve. (5) All of the abov

    		•
  • Q : Measurement of below poverty line Below

    Below the poverty line the proportion of the U.S. population is: (w) rises with upturns of the business cycle. (x) has declined, though somewhat erratically, over the past 50 years. (y) has been virtually eliminated by a vigorous “War on Poverty

    		•
  • Q : Best statement of association between

    Which of the given is the best statement of the association between macroeconomics and microeconomics: (w) Macroeconomics and microeconomics deal along with totally independent types of problems. (x) A clear line splits microeconomic questions from ma

    		•
  • Q : Production at exceeds marginal costs by

    For any profit-maximizing monopolist not capable to price discriminate, production arises at an output level where is: (w) price exceeds marginal costs [P > MC]. (x) marginal revenue exceeds marginal costs [MR >

    		•