When the trade-offs you face are determined by the choices someone else will make, behaving rationally involves:
A. acting in a way to help others.
B. behaving strategically.
C. ignoring the behavior of other actors.
D. All of these statements are true.
Answer: B
You might also like to view...
Which of the following provides the strongest evidence that a firm operating in the highly competitive retail sector is failing to provide goods and services that consumers value highly relative to their cost?
a. The firm is making losses, and its sales are declining. b. The top-level managers of the firm are paid high salaries. c. The wages earned by the employees of the firm are low. d. The firm is a large corporation. e. The firm is highly profitable, and its sales have grown rapidly.
Profit is the:
A. sum of total revenue and total cost. B. total revenue minus total cost. C. total cost minus total revenue. D. None of these is true.
The slope of the aggregate supply curve is
A. perfectly vertical. B. perfectly horizontal. C. upward. D. downward.
Broad money is represented by
A) H. B) M1. C) M2. D) higher powered money. E) the monetary base.