dentify what concept each of the following circumstances is an example of: a. Students end up doing "all-nighters" just to finish a term paper. (Click to select) b. The so-called "Lake Wobegon effect" where everyone in a group claims to be above average. (Click to select) c. People who are usually very neat tend to litter in areas that are covered with graffiti. (Click to select) d. Behavioral economists suggest that brand loyalty can be a source of monopoly power for producers. (Click to select)

a. Students end up doing "all-nighters" just to finish a term paper.- Planning Fallacy

The Planning fallacy is a tendency by humans to overestimate how much time they have to complete a project due to them having an optimism bias when projecting how much time will be needed. The students thought they had time to study up until they didn't.

b. The so-called "Lake Wobegon effect" where everyone in a group claims to be above average. - The Overconfidence Effect

The overconfidence effect leads people to believe that their abilities exceed what they actually are and can be called the  Lake Wobegon effect which was derived from the name of a fictional town where every child was supposedly above average.

c. People who are usually very neat tend to litter in areas that are covered with graffiti.- Framing effect

The Framing effect refers to a cognitive tendency by people to make decisions based on the how it is presented to them. The places covered with graffiti appeared dirty to them so them chose to litter there.

d. Behavioral economists suggest that brand loyalty can be a source of monopoly power for producers. - Status quo bias

This supports the old saying, "if it isn't broke, don't fix it". This bias is an emotional one that leads people to stay in a condition that they are used to because it is what they know and anything else might be considered a loss to them. Therefore companies can use these to always sell to a group of people if those people have brand loyalty.

FIFO 480 euros

LIFO 400 euros

PMP 460 euros

Explanation:

Unidades disponibles:

100 existencia inicial

300 compra

FIFO

Primero se venden las unidades de existencia inicial y luego las de la compra:

100 existencia inicial y 220 de la compra.

Inventario final: 80 unidades a 6 euros cada una = 480 euros

LIFO se vende primero la compra:

300 de compra y 20 de existencia inicial

Inventario final 80 unidades a 5 euros cada una = 400 euros

Costo Promedio Ponderado:

100 unidades a 5 + 300 a 6 = 500 + 1800 = 2300 euros

400 unidades costaron 2300 euros

en promedio: 2300 / 400 = 5.75

inventario final 80 unidades a 5.75 = 460 euros