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The Economic Way of Thinking 13th Edition by David Prychitko, Peter Boettke, Paul Heyne
Edition 13ISBN: 9780132992695The Economic Way of Thinking 13th Edition by David Prychitko, Peter Boettke, Paul Heyne
Edition 13ISBN: 9780132992695 Exercise 6
Many Americans regularly drive their own cars to work rather than use public transportation or form a car pool.
(a) How do you know that each person in a single-passenger vehicle during the rush hour is behaving efficiently?
(b) The people riding the bus are also behaving efficiently. How can (a) and (b) both be true simultaneously?
(c) What is actually being asserted by someone who says that it's inefficient for so many commuters to take their own cars to work?
(a) How do you know that each person in a single-passenger vehicle during the rush hour is behaving efficiently?
(b) The people riding the bus are also behaving efficiently. How can (a) and (b) both be true simultaneously?
(c) What is actually being asserted by someone who says that it's inefficient for so many commuters to take their own cars to work?
Explanation
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Verified
Efficiency is the state of performing ac...
The Economic Way of Thinking 13th Edition by David Prychitko, Peter Boettke, Paul Heyne
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