« previous next »

Author Question: What is the basic assumption underlying the model of choice?[br][br][b][color=gray]Question ... (Read 125 times)

moongchi

  • Hero Member
  • *****
  • Posts: 516
on: Jun 30, 2018
What is the basic assumption underlying the model of choice?

Question 2

Other things being equal, if there is an increase in the price of the good measured on the vertical axis, the budget constraint will shift outward.
 a. True
  b. False
  Indicate whether the statement is true or false


Awesome

  • Sr. Member
  • ****
  • Posts: 280
Reply #1 on: Jun 30, 2018
Answer to Question 1

The model of choice starts by assuming that people want to make themselves as well off
as possible. In other words, people try to maximize utility.

Answer to Question 2

False


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question

moongchi

  • Hero Member
  • *****
  • Posts: 516
Reply #2 on: Jun 30, 2018
Thank you


Awesome

  • Sr. Member
  • ****
  • Posts: 280
Reply #3 on: Jun 30, 2018
No problemo


« previous next »
 

Did you know?

It is difficult to obtain enough calcium without consuming milk or other dairy foods.

Did you know?

More than 34,000 trademarked medication names and more than 10,000 generic medication names are in use in the United States.

Did you know?

In the ancient and medieval periods, dysentery killed about ? of all babies before they reach 12 months of age. The disease was transferred through contaminated drinking water, because there was no way to adequately dispose of sewage, which contaminated the water.

Did you know?

Alcohol acts as a diuretic. Eight ounces of water is needed to metabolize just 1 ounce of alcohol.

Did you know?

Normal urine is sterile. It contains fluids, salts, and waste products. It is free of bacteria, viruses, and fungi.

A hypothetical model of the process of cell-wall expansion. A hypothetical model of the process of cell-wall expansion.
question question
Economics question Economics question
economic question economic question
The attenuation model regulating the tryptophan operon The attenuation model regulating the tryptophan operon
Model of the CFTR protein Model of the CFTR protein
Video: Muscle Twitch and Muscle Tension - Motor unit size and force

For a complete list of videos, visit our video library