Economists generally believe that:
A) a rational individual will pursue an activity if the average cost of the activity is equal to the total benefit from it.
B) a rational individual will pursue an activity if the total benefit of the activity is more than the total cost of the activity.
C) a rational individual will pursue an activity if the total cost of the activity is more than the total benefit from it.
D) economic decisions result from random behavior.
E) decision makers never make mistakes.
Correct Answer:
Verified
Q60: Exhibit 1.1 Q61: Economists believe that: Q62: In economics, marginal analysis: Q63: When economists say that people act as Q64: If the marginal cost of adding a Q66: A rational decision maker will make a Q67: Rational choice implies: Q68: In economics, marginal usually refers to: Q69: Given that consumers need time and information Q70: Given that consumers need time and information
A) people who choose to
A) has no practical
A) the use of an
A) a
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