Decisions based on general rules of thumb instead of price

Assignment Help Microeconomics
Reference no: EM13683528

Do you think consumers make purchasing decisions based on general rules of thumb instead of price? Why would consumers do this? What implication might this have for the conclusions drawn about markets? (Post-Keynesian).

Reference no: EM13683528

Previous Q& A

  Calculate the number of firms on market

(a) Calculate the number of firms on market

  What is the importance of trade agreements

What is the importance of trade agreements, and how is international trade related to the standard of living of the United States (as opposed to that of a small industrial nation or to a developing nation)? What significance do trade agreements..

  Find michael income elasticity for filets

Find Michael's income elasticity for filets.

  Inputs of labor total product marginal product

Inputs of labor Total Product Marginal Product

  What are the appropriate steps to follow

When an employee is being terminated, what are the appropriate steps to follow? Should the news come from a letter/email or person to person?

  Looking at how companies do business

Microsoft case study: Looking at How Companies Do Business and Writing Software for the Processes

  Suppose there is an increase in supply

Suppose there is an increase in supply

  Evaluate what angle will the beam make with the normal

A thin flashlight beam traveling in air strikes a glass plate at an angle of 52 degree with the plane of the surface of the plate. find what angle will the beam make with the normal in the glass

  Evaluate the initial speed of the apple

An archer shoots an arrow with a velocity of 45 meter per second at an angle of 50 degree with the horizontal. Evaluate the initial speed of the apple

  Find the time it takes for the bullet to strike the target

A rifle is aimed horizontally toward the center of a target 0.10 kilometer away, but the bullet strikes 10 centimeter below the center. Find the time it takes for the bullet to strike the target

Reviews

Write a Review

 

Similar Q& A

  1do some research on milton friedman and briefly highlight

1.do some research on milton friedman and briefly highlight his main contributions to economics and political

  Should the issuers be subject to reserve requirements

A smart card, also known as an electronic purse, is a plastic card that can be loaded with a monetary value. Its developers argue that, once widely accepted, it could replace the use of currency in vending machines, parking meters, and elsewhere.

  A grocery store notices that the cross-price elasticity

A grocery store notices that the cross-price elasticity between ice cream and chocolate syrup is -.3. The store is advertising a sale with ice cream prices reduced by 20%. By how much should they expect chocolate syrup sales to increase?

  In two-player one-shot simultaneous-move game each player

in a two-player one-shot simultaneous-move game each player can choose strategy a or strategy b. if both players choose

  Identify a microeconomic theory of interest to you

Identify a microeconomic theory of interest to you.

  Develop a linear programming model

A rental car company has an imbalance of cars at seven of its locations. The following network shows the locations of concern (the nodes) and the cost to move a car between locations. A positive number by a node indicAtes an excess supply at the n..

  Explain person with a diminishing marginal utility of income

Can be expressed as the ratio of (marginal utility per unit of thegood)/(price per unit of the good) being equalized across all goods. Can be expressed as the ratio of marginal utilities being equatedto the ratio of prices for all possible pairs of ..

  Describe how circular flow diagram relates to current

explain how the circular flow diagram relates to the current economic situation. using the circular flow diagram

  To make as much money for the stockholders as possible

according to milton friedman business has only one social responsibility - to make profits as long as it stays within

  1explain why the short-run aggregate supply curve is not

1.explain why the short-run aggregate supply curve is not vertical but the long-run aggregate supply curve is

  Outline a microeconomic reform issue

Outline a microeconomic reform issue that is relevant to the Australian economy and how successful do you think these reform measures were and say why referring to some data or research that has been performed?

  Show what graph would look like if us buyers could purchase

the steel industry has been lobbying for high taxes on imported steel. russia brazil and japan have been producing and

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd