Solved

Consider an Economic Model Designed to Analyze the Behavior of Business

Question 111

Multiple Choice

Consider an economic model designed to analyze the behavior of business firms.An assumption that the goal of the firms is to maximize profit would be


A) a simplifying assumption
B) a critical assumption
C) an abstraction from reality
D) an unnecessary detail
E) irrelevant to the conclusions of the model

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q106: The price of apples in Denver,Colorado is<br>A)

Q107: The statement that "at 10 percent,the interest

Q108: An economist claims that "the evidence suggests

Q109: Suppose you start your own company making

Q110: For society as a whole,producing more of

Q112: If the president of Chile commented that

Q113: Carl is considering attending a concert with

Q114: A critical assumption<br>A) makes an economic model

Q115: Macroeconomics is the study of<br>A) how the

Q116: Economic models come in the form of<br>A)