Rational choice
A) is a choice that uses the available resources to best achieve the objective of the person making the choice.
B) is always efficient.
C) is what you must give up to get what you want.
D) is made by comparing different incentives.
E) provides the answer to only the "how" question.
A
Economics
You might also like to view...
If the quantity of the variable on the y-axis increases by 3 when the quantity of the variable on the x-axis increases by 4, then the slope of the curve equals
A) 3. B) 4. C) 3/4. D) 4/3. E) 1.
Economics
To maximize total revenue
A) should produce where MR=MC. B) should produce where MR=P. C) a firm should produce where MR=0. D) should produce where P=ATC.
Economics