Economists believe that most individuals act as if they are motivated by self-interest and:
a. respond selfishly
b. respond in predictable ways to changing circumstances.
c. it leads to inconsistent and unpredictable behavior.
d. all of the above.
b
Economics
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Mr. Peabody chooses to invest in companies that produce goods and services based on consumer preferences. Mr. Peabody is investing in companies that are attempting to be
A) guaranteed to make a profit. B) allocatively efficient. C) productively efficient. D) all of the above
Economics
A firm's marginal cost can always be thought of as the change in total cost if
A) the firm produces one more unit of output. B) the firm buys one more unit of capital. C) the firm's average cost increases by $1. D) the firm moves to the next highest isoquant.
Economics