Multiple Choice
The phrase "smart for one, but dumb for all" refers to the idea that the individual pursuit of self-interest:
A) only leads to an efficient outcome when everyone is well-informed.
B) always leads to an efficient outcome.
C) never leads to an efficient outcome.
D) doesn't always lead to an efficient outcome.
Correct Answer:

Verified
Correct Answer:
Verified
Q105: Refer to the figure below. <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6547/.jpg"
Q106: Economic theory assumes that a firm's goal
Q107: The main problem with price subsidies is
Q108: A firm earns a normal profit when
Q109: Which of the following statements about explicit
Q111: Refer to the figure below. <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6547/.jpg"
Q112: Free entry and exit of firms is
Q113: Which of the following statements about implicit
Q114: Assume that all firms in this industry
Q115: Economic rent is:<br>A)the amount people pay for