« previous next »

Author Question: What is the basic assumption underlying the model of choice?[br][br][b][color=gray]Question ... (Read 111 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?

In 2006, a generic antinausea drug named ondansetron was approved. It is used to stop nausea and vomiting associated with surgery, chemotherapy, and radiation therapy.

Did you know?

Most fungi that pathogenically affect humans live in soil. If a person is not healthy, has an open wound, or is immunocompromised, a fungal infection can be very aggressive.

Did you know?

Side effects from substance abuse include nausea, dehydration, reduced productivitiy, and dependence. Though these effects usually worsen over time, the constant need for the substance often overcomes rational thinking.

Did you know?

Immunoglobulin injections may give short-term protection against, or reduce severity of certain diseases. They help people who have an inherited problem making their own antibodies, or those who are having certain types of cancer treatments.

Did you know?

Approximately 25% of all reported medication errors result from some kind of name confusion.

The seven components of the Wernicke-Geschwind model. The seven components of the Wernicke-Geschwind model.
The Bohr model of the atom. The nucleus contains protons and neutrons, and electrons orbit around ... The Bohr model of the atom. The nucleus contains protons and neutrons, and electrons orbit around ...
Can anyone help me with this matching question Can anyone help me with this matching question
physics question number 5 - moving conductors physics question number 5 - moving conductors
this is a math question this is a math question
economic question (having trouble) economic question (having trouble)
Video: Nervous pathway to the Neuromuscular (NMJ)

For a complete list of videos, visit our video library