The term rational self-interest,as viewed by economists,means:
A) consumers would never pay more for a good simply because it carried a certain designer label.
B) only economists are capable of making choices according to rational self-interest.
C) people never act until they have perfect information in order to guarantee that they act in their own self-interest.
D) consumers always seek the least expensive option when making a purchase,regardless of individual preferences.
E) people will make the choices that,given the information available,will give them the greatest amount of satisfaction.
Correct Answer:
Verified
Q35: Oil found underground in Texas is an
Q36: An economy's resources:
A)are limited in quantity.
B)are always
Q37: A rational consumer:
A)never makes mistakes.
B)is also a
Q38: Which of the following is an example
Q39: Which of the following is not physical
Q41: Some economists have noted that throughout recent
Q42: For an analysis to be considered positive,and
Q43: Which of the following is not an
Q44: The category of economics that contains statements
Q45: Rational self-interest depends on:
A)the level of education
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents