When people make rational choices, they
A) do not consider their emotions.
B) weigh the costs and benefits of their options and act to satisfy their wants.
C) are necessarily making the best decision.
D) necessarily make a decision in the social interest.
E) behave selfishly.
B
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Which of the following is a pure public good?
a. cable TV service b. fire protection c. a fireworks display d. corn flakes e. higher education
One solution to the problems of marginal-cost pricing of a regulated natural monopolist is average cost pricing. In this model, the monopolist is allowed to price its production at average total cost. How does average-cost pricing differ from marginal-cost pricing? Does this solution maximize social well-being?
Which of the following are major influences on the expected profit from an investment?
I. technology advances II. stock market behavior III. accounting practices A) I only B) I and II C) I and III D) II and III
When an economy experiences significant economic growth:
a. a negative relationship exists between output per capita and adult literacy rates. b. an indirect relationship exists between output per capita and adult literacy rates. c. a direct relationship exists between output per capita and adult literacy rates d. no observed relationship exists between output per capita and adult literacy rates.