Neoclassical economics tend to make inaccurate predictions of human behavior in situations involving:
A. Price changes
B. Financial incentives
C. Firms' profits
D. Uncertainty and fairness
D. Uncertainty and fairness
You might also like to view...
What is one reason why would corn production, which takes place in a perfectly competitive market, achieve an efficient use of resources?
A) because a perfectly competitive firm produces at the lowest possible long run average total cost B) because a perfectly competitive firm produces where marginal revenue exceeds marginal cost C) because a perfectly competitive firm is a price maker D) because the goal of a perfectly competitive firm is to profit maximize
The price of a good will rise when:
a. there is a shortage of the good. b. there is a surplus of the good. c. demand for the good decreases. d. the supply of the good increases.
IF a period of substantial inflation, increasing gov. spending would _________
Fill in the blank(s) with the appropriate word(s).
Deregulation of the airline and trucking industries was followed by the creation of many new firms.
Answer the following statement true (T) or false (F)