When tastes are not quasilinear, the positive economist will introduce error into the analysis if he uses the uncompensated (rather than the compensated) demand curve to predict behavior.
Answer the following statement true (T) or false (F)
False
Rationale: To predict what consumers actually do, the uncompensated demand curve is the correct curve to use.
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Which of the following would be the best example of an oligopolistic industry?
A) agriculture B) large aircraft manufacturing C) confections D) retail convenience stores
The authors feel subsidies destroy wealth because
a. subsidies move assets from lower- to higher- valued uses b. subsidies move assets from higher- to lower- valued uses c. subsidies help producers only d. subsidies help consumers only
Gross domestic product for 2000 tries to measure the market value of all final goods and services produced in 2000 . But not everything produced in the economy gets onto the market
Indicate whether the statement is true or false
If the government increased licensing requirements for beauty salons, the supply curve for salon services would shift to the left
Indicate whether the statement is true or false