Some people make purchases without complete information because:
A. they are irrational.
B. the opportunity cost of getting more information outweighs the benefit of having more information.
C. the benefit of having more information outweighs the opportunity cost of acquiring it.
D. No one makes purchases without complete information.
B. the opportunity cost of getting more information outweighs the benefit of having more information.
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Straight line pay for performance
a. Provides an incentive to increase performance b. Breaks the link between meeting a particular budget target and compensation c. Rewards the manager for doing more and punishes them for doing less d. All of the above
Answer the following statements true (T) or false (F)
1. A free good may eventually become an economic good. 2. Payment for the use of capital is made in the form of rent. 3. The study of economics would be less complicated if differences in subjective judgments did not exist. 4. Equilibrium is a position of stability or rest.