To decide what is meant by enlightened self-interest, behavioral economists will:
A. make their models more mathematically rigorous.
B. use the ceteris paribus assumption repeatedly.
C. base their models on induction.
D. use laboratory and field experiments.
Answer: D
Economics
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The marginal social benefit curve from a public good is found by horizontally summing the marginal benefit curves of all individuals
Indicate whether the statement is true or false
Economics
Suppose a person's utility for leisure (L) and consumption (Y) can be expressed as U = Y + L0.5. Assuming a wage rate of $10 per hour, show what happens to the person's labor supply curve when the person wins a lottery prize of $100 per day
What will be an ideal response?
Economics