"Satisficing" rather than "maximizing" primarily emerges under conditions where
a. information is costly.
b. management lacks ambition.
c. profit maximization is rejected on moral grounds.
d. risk is minimal.
a
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The enclosure movement in England in the 17th century represented an attempt to transform
a. a public good into a private good. b. a private good into a public good. c. a private good into a common resource. d. a common resource into a private good.
What type of cost is not relevant to the process of research and development or invention in general?
A. Fixed cost B. Marginal cost C. Variable cost D. Social cost
Market signals
A) are ways of conveying information. B) are market noise that confuses buyers and sellers. C) are best ignored by investors. D) always lead to economic losses.
What are the strengths and weaknesses of the negative income tax (NIT) as an alternative to traditional welfare programs?
What will be an ideal response?