The assumption that people do NOT intentionally make decisions that would leave them worse off is known as
A. the false assumption.
B. the rationality assumption.
C. the ceteris paribus assumption.
D. the normative assumption.
Answer: B
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Why might a union find that attaining the goal of employing all its members and the goal of maximizing total union wage receipts to be incompatible objectives?
What will be an ideal response?
Technical superiority can be a source of entry barriers.
Answer the following statement true (T) or false (F)
A production indifference curve describes the input combinations that will produce a given output
a. True b. False Indicate whether the statement is true or false
When the selling price of a good rises (goes up), what is the relationship to the quantity supplied?
a. The profit made on each item goes down. b. It becomes practical to produce more goods. c. The cost of production goes down. d. There is no relationship between the two.