Neoclassical economics.

Define behavioral economics and explain how it contrasts with neoclassical economics. Discuss the evidence for the brain being modular, computationally restricted, reliant on heuristics, and prone to various forms of cognitive error.

Course: Principles of Microeconomics  Consumer Behavior After completing this module, you will be able to do the following: Discuss price elasticity of demand and how it is calculated. Explain the usefulness of the total revenue test for price elasticity of demand. List the factors that affect price elasticity of demand and describe some applications of […]

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