The economist assumes that people act in accordance with the equimarginal principle,because the economist assumes that people are

Question

Quizplus · Accepted Answer

The equimarginal principle assumes that people are rational and make decisions based on the trade-offs between the benefits and costs of different options. It does not assume that people are altruistic or selfish, and it is not directly related to being a price taker.

The Economist Assumes That People Act in Accordance with the Equimarginal