Some Economists Have Argued That Path Dependency and Switching Costs

question 129

Multiple Choice

Some economists have argued that path dependency and switching costs can lead to market failure.Which of the following is an example of this argument?

• A)Costly celebrity endorsements lead many consumers to buy a product even though it is more expensive or less effective than a product that is not endorsed by a celebrity.
• B)A consumer who won a lottery for a Super Bowl ticket refuses to sell it for $3000 even though he would not have paid $3000 for a ticket if he had not won the lottery.
• C)While playing the ultimate game, an allocator decides to share $20 equally with a recipient rather than keep the $20 for herself.
• D)VHS video recorders became more popular with consumers than Sony Betamax recorders even though the Betamax recorders embodied a superior technology.

Recognize the myths and facts surrounding rape, including the prevalence of false accusations and the nature of rapists.

Identify common myths about rape and understand their impact on victims and society.

Understand the role and requirements of Megan's Law in sexual offender management.

Analyze workplace dynamics and challenges faced by women in traditionally male occupations.

---

Definitions:

Evidence

Information or facts that are used to support the validity of a statement or argument.

Interpretation

An expression of the meaning or significance of a wide variety of experiences, situations, data, events, judgments, conventions, beliefs, rules, procedures, or criteria.

Inference

Identifies and secures elements needed to draw reasonable conclusions; it forms conjectures and hypotheses, it considers relevant information, and it reduces or draws out the consequences flowing from data, statements, principles, evidence, judgments, beliefs, opinions, concepts, descriptions, questions, or other forms of representation.

Spontaneous Generation

The outdated belief that living organisms can arise from non-living matter without any biological process.