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Author Question: The term self-interest, as viewed by economists, means that: a. consumers never pay more for a good ... (Read 61 times)

Engineer

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on: Jun 30, 2018
The term self-interest, as viewed by economists, means that:
 a. consumers never pay more for a good simply because it carries a certain designer label.
  b. only economists are capable of making choices according to rational self-interest.
  c. people never act in their self-interest until they have perfect information.
  d. consumers always seek the least expensive option when making a purchase, regardless of individual preferences.
  e. people make choices that, given the information available, gives them the greatest amount of satisfaction.

Question 2

The amount of additional satisfaction derived from an additional unit of a good or service is called:
 a. total utility.
 b. marginal cost.
 c. total cost.
 d. marginal utility.


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duy1981999

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Reply #1 on: Jun 30, 2018
Answer to Question 1

e

Answer to Question 2

d


Engineer

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Reply 2 on: Jun 30, 2018
Gracias!

ktidd

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Reply 3 on: Yesterday
Excellent

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