A man who thinks he would save money by driving to work rather than taking the bus, but who nonetheless elects to take the bus because driving in rush-hour traffic frightens him, is
A) behaving inefficiently.
B) choosing what is for him the most efficient way to commute.
C) rejecting economic efficiency for personal reasons.
D) wasting scarce resources.
B
Economics
You might also like to view...
If country A produces S at a lower relative price than country B, A is said to have a comparative advantage in S
Indicate whether the statement is true or false
Economics
Recent financial turmoil has caused many people to increase saving and to prefer assets that are perceived to be relatively safe and liquid. What are the likely effects on M1 and M2?
What will be an ideal response?
Economics