Multiple Choice
A defense for the assumption that consumers maximize is that
A) consumers never make mistakes.
B) consumers do not consistently make the same mistakes.
C) it allows for many possible outcomes.
D) mistaken consumers may receive counseling from the government.
Correct Answer:
Verified
Correct Answer:
Verified
Q1: The fact that indifference curves are bowed
Q2: The indifference map<br>A) shows that the consumer
Q3: A lump-sum tax is a tax that<br>A)
Q4: Look at the production schedule of the
Q6: Look at the production schedule below: <img
Q7: The marginal rate of substitution<br>A) is minus
Q8: Theoretically,an increase in the real wage<br>A) increases
Q9: Total factor productivity encompasses<br>A) labor.<br>B) capital.<br>C) output.<br>D)
Q10: A positive,pure income effect can be obtained
Q11: Look at the production schedule of the