Multiple Choice
The situation described in the book as "smart for one, dumb for all" occurs when:
A) individuals act rationally, so there are no unexploited opportunities for society as a whole.
B) individuals act rationally, but there are still unexploited opportunities for society as a whole.
C) individuals make better decisions when they are alone than when they are part of a group.
D) individuals make better decisions when they are part of a group than when they are alone.
Correct Answer:
Verified
Correct Answer:
Verified
Q95: "All else constant, consumers will purchase more
Q96: Suppose the residents of Metropolis travel to
Q97: Refer to the accompanying figure, which shows
Q98: If there are no unexploited opportunities for
Q99: Refer to the accompanying figure. An increase
Q101: As the price of flour (an input
Q102: Refer to the given table. Relative
Q103: Suppose supply decreases, but there is no
Q104: If the demand for gadgets increases as
Q105: A decrease in both the equilibrium price