Please provide the correct answers for below questions

Joe lost a substantial amount gambling at a race track today. On the last race of the day, he decides to make a large enough bet on a longshot so that, if he wins, he will make up for his earlier losses and break even on the day. His friend Sue, who is up for the day, makes just a small final bet so that she will end up ahead for the day even if she loses the last race.

This is typical race track behavior for winners and losers. Would you explain this behavior using over-confidence bias, prospect theory, or some other principle of behavioral economics?

Joe and Sue's behavior can be explained by

A. the certainty effect because they place too little weight on outcomes that they consider to be certain relative to risky outcomes.

B.the reflection effect because their attitudes toward risk are symmetric for gains and losses.

C. the gambler's fallacy because they do not believe past events affect current, independent outcomes.

D.overconfidence because they are overconfident they will win on the day's last bet.

E.prospect theory because they are making decisions relative to their wealth at the start of the day.

Based on the information in the Mini-Case "Stocks' Risk Premium," are the comparative returns to 10-year U.S. treasury bonds and the S&P 500 stock index consistent with risk aversion on the part of investors? Explain.

Over an extended period of time, the comparative returns to 10-year U.S. treasury bonds and the S&P 500 stock index are

A.not consistent with risk aversion because safer investments have higher rates of return.

B.consistent with risk aversion because riskier investments have higher rates of return.

C.consistent with risk aversion because liquid investments have higher rates of return.

D.not consistent with risk aversion because variable investments have higher rates of return.

E.consistent with risk aversion because investments with shorter maturities have higher rates of return.

The Mini-Case "Are Monopoly Mergers Harmful" states that there are about 5,000 ready-mix concrete plants in the United States. With so many plants in operation, why is there concern about mergers creating monopoly power?

There is a concern about mergers creating monopoly power in the industry for ready-mix concrete because

A.technology is increasing the ability to transport concrete.

B.the concrete industry is large.

C.concrete transportation costs are low.

D.the country's concrete market is a national one.

E.few of these concrete firms directly compete.

Also, explain why speed of entry is important in assessing the cost of mergers that create a monopoly.

Considering the speed of entry is important in assessing the cost of mergers that create a monopoly in the concrete industry because

A.the production of concrete requires no fixed imputs.

B.new concrete firms must incur substantial sunk entry costs.

C.merged concrete monopolies quickly go out of business.

D.technology quickly changes the concrete production process.

E.

existing concrete firms only earn large profits temporarily.