Author Question: Which of the following abilities should an economic model possess? a. It should lower the time cost ... (Read 9 times)

big1devin · **on:** Jun 30, 2018

Which of the following abilities should an economic model possess?
a. It should lower the time cost of information collection.
b. It should help individuals to discern the information that matters for a problem.
c. It should be able to process both untrue or impossible to verify information as well as correct information in the data set.
d. It should suggest accurate solutions for a problem.

Question 2

If a good is free, a rational consumer will continue to consume that good, irrespective of its marginal utility.
a. True
b. False
Indicate whether the statement is true or false