Economists assume that the goal of the firm is to maximize total

Alex must prepare for exams in both biology and economics this week. Assume that the production possibilities curve showing the tradeoff between exam scores in biology and economics is concave toward the origin. As Alex moves along the curve spending more of his time studying for economics, the opportunity cost of an hour of preparation for economics: a. increases

b. remains constant. c. decreases. d. first increases then decreases.

Someone saying that he wants to lose weight, but ordering dessert is an example of:

A. rational decision making. B. utility-maximizing behavior. C. rational behavior. D. irrational behavior.