This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: When an economist assumes that the owners of firms are motivated only by the desire to maximize ... (Read 41 times)

Lin Shi

  • Full Member
  • ***
  • Posts: 131
on: Oct 12, 2022
When an economist assumes that the owners of firms are motivated only by the desire to maximize profits, the economist most likely believes that
◦ the assumption is descriptively accurate, since surveys have been taken and the owners of firms have admitted that their only objective is to maximize profits.
◦ the assumption is inaccurate, since surveys have been taken and the owners of firms have admitted that they care about more than just profits.
◦ individuals entering business are quite narrow in their personal objectives.
◦ all people enter business for their own selfish gain.
◦ it doesn't matter whether or not the assumption is descriptively accurate; what matters is whether a theory built on the assumption predicts well.
Microeconomics ¦ Ragan ¦ 17th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by Lin Shi on Oct 12, 2022

Sophia0717

  • Full Member
  • ***
  • Posts: 162
Reply #1 on: Oct 12, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 39% of students answer this correctly


Lin Shi

  • Member
  • Posts: 131
Reply 2 on: Oct 12, 2022
Excellent

ktidd

  • Member
  • Posts: 319
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

A serious new warning has been established for pregnant women against taking ACE inhibitors during pregnancy. In the study, the risk of major birth defects in children whose mothers took ACE inhibitors during the first trimester was nearly three times higher than in children whose mothers didn't take ACE inhibitors. Physicians can prescribe alternative medications for pregnant women who have symptoms of high blood pressure.

Did you know?

More than 2,500 barbiturates have been synthesized. At the height of their popularity, about 50 were marketed for human use.

Did you know?

Human stomach acid is strong enough to dissolve small pieces of metal such as razor blades or staples.

Did you know?

Limit intake of red meat and dairy products made with whole milk. Choose skim milk, low-fat or fat-free dairy products. Limit fried food. Use healthy oils when cooking.

Did you know?

As the western states of America were settled, pioneers often had to drink rancid water from ponds and other sources. This often resulted in chronic diarrhea, causing many cases of dehydration and death that could have been avoided if clean water had been available.

When cats mate, the tomcat (male) bites the scruff of the female's neck as she assumes a positi When cats mate, the tomcat (male) bites the scruff of the female's neck as she assumes a positi
This slave burial service, painted by John Antrobus in 1860, reflects an inversion of power relation This slave burial service, painted by John Antrobus in 1860, reflects an inversion of power relation
Firms Incorporated into U.S. Steel Firms Incorporated into U.S. Steel
Economic objectives of firms Economic objectives of firms
Competitive firms and maximization Competitive firms and maximization
Competitive firms and maximization Competitive firms and maximization
Video: Natural Selection, Species Isolation and Real World Example

For a complete list of videos, visit our video library