Author Question: The idea that people will not consciously make decisions that make them worse off is known as A) ... (Read 119 times)

jCorn1234 · **on:** Jun 29, 2018

The idea that people will not consciously make decisions that make them worse off is known as

A) rationality assumption.
B) the decision duality.
C) Adam Smith's doctrine.
D) incentive assumption.

Question 2

If demand and supply both decrease

A) the equilibrium quantity definitely will decrease, and the market clearing price definitely will decrease.
B) the equilibrium quantity definitely will decrease, and the market clearing price definitely will increase.
C) the market clearing price definitely will decrease, but the change in the equilibrium quantity cannot be determined without more information.
D) the equilibrium quantity definitely will decrease, but the change in market clearing price cannot be determined without more information.