Smoking can lead to lung cancer and premature death. Which of the following would an economist use to explain why people smoke?
A) Smokers exhibit irrational behaviour.
B) Smokers face tradeoffs.
C) Since smoking is addictive, smokers need to smoke.
D) Smokers are not maximizers.
Correct Answer:
Verified
Q3: If we consider the bundles A =
Q4: Nonsatiation implies that consumption bundles:
A)which are nearer
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Q6: If the marginal rate of substitution is
Q7: Jane's utility function is U(x,y)= 2xy. She
Q9: The fact that I'm willing to eat
Q10: If an indifference curve is smooth and
Q11: In economics, consumption bundles are:
A)utility functions.
B)bags used
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