A defense for the assumption that consumers maximize is that
A) consumers never make mistakes.
B) consumers do not consistently make the same mistakes.
C) it allows for many possible outcomes.
D) mistaken consumers may receive counseling from the government.
B
Economics
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What will be an ideal response?
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In a steady-state, sustained increases in the capital-to-labor ratio are only possible if
a. the savings rate increases. b. population growth decreases. c. depreciation decreases. d. technology increases. e. all of the above.
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