The illusion of pattern shapes our everyday lives. How does this illusion emerge (refer to law of small numbers & impossibility of causal explanations) and how does it affect decision-making?
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The illusion of pattern shapes our everyday lives. How does this illusion emerge (refer to law of small numbers & impossibility of causal explanations) and how does it affect decision-making?
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- Discussion Prompt: What are the limits of rational decision-making?Describe the procedure of considering economic decisions?Which of the following is NOT the way you can understand interaction effects? a. by graphing the cell means b. through inspecting cell means c. through inspecting marginal means d. by a verbal description of results
- 1) How does the concept of scarcity fit into an understanding of economics? How does it relate to the notion of trade offs? Explain a few factors that go into rational decision making in an economic contexr."Uber eats usually has a promotion in which, if a customer orders more than $30 worth of food at a specific restaurant, the customer will get a discount of 15% off their order. "Answer the following questions concisely:1. Before this promotion starts, in general terms, what do a customer's marginal cost and marginal benefit curves look like? (eg Upward sloping, downward sloping, horizontal?). Be clear about what is being measured. 2. What is Uber's goal with this policy?3. How does this affect an average customer's marginal cost and marginal benefit curves, and their intersection? 4. What is a plausible secondary effect that is likely to happen that is not Uber's goal?How can you describe the “self” as cognitive construct?
- How do I illustrate this?Why are they the answers can you explain all steps and formulas involved please ?Chandra received a gift certificate that covers threesalsa dance lessons. After the first lesson, Chandradecided that she doesn’t like salsa, yet she stillplans to go the next lesson because it doesn’t costher anything. Evaluate Chandra’s logic.
- Is it the possible for a person incur an opportunity cost without spending money?1. What makes a certain behavior unethical? * a.If it might cause harm to yourself. b.If it might cause too much happiness to others. c.If it might cause confusion to others. 2. A normative study of ethics, as is often done in philosophy or moral theology, engages the question: What could or should be considered as the right way of acting? Identify a good example that could illustrate what normative study of ethics is a .Ethics is based on the primitive practices of humans. b. Ethics is based on existing doctrines and tells us what is the prescribe human behaviors. c. Ethics is based on religious practices 3. What makes rule necessary for peace and order? * a.Rule forces people to comply with societal standards. b.Rule organizes moral development of the members of society. c. Rules guide people to do what they want and need to do. 4. Which of the following is a moral issue? a. A student finds naked painting offensive. b. A student confuse about his/her career. c. A student…Joab and his friends used to play a game where they put on a dog's electric fence collar and tried to stand over the electric fence line because, after careful consideration of the costs and benefits, they decided that the benefits of watching their friends get shocked outweighed the costs of being shocked themselves. According to the economic way of thinking, by playing this game, Joab and his friends were O not responding to the incentives they faced. making an irrational choice. making a rational choice. not fully considering the costs and benefits of their decision since this is obviously a mistake for anybody to do.
