This topic contains a solution. Click here to go to the answer

Author Question: Rational choice by an individual implies a. the use of some mathematical model when solving a ... (Read 68 times)

Mr. Wonderful

  • Hero Member
  • *****
  • Posts: 866
Rational choice by an individual implies
 a. the use of some mathematical model when solving a problem
  b. making decisions aimed at achieving some predetermined goal
  c. that only monetary costs and benefits are weighed
  d. that an individual will never regret any action taken
  e. that scarcity can be eliminated for that individual

Question 2

The assumption that individuals act rationally implies that
 a. people think only of themselves and disregard the well-being of others
  b. people undertake all those activities that yield benefits to themselves
  c. people only consider the costs of an activity to decide whether it is worthwhile
  d. the greater the cost of a charitable deed to a benefactor, the more likely he or she is to perform that deed
  e. people implicitly calculate the costs and benefits of an activity to decide if it is worthwhile



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Smiles0805

  • Sr. Member
  • ****
  • Posts: 305
Answer to Question 1

B

Answer to Question 2

E





 

Did you know?

The immune system needs 9.5 hours of sleep in total darkness to recharge completely.

Did you know?

In 1835 it was discovered that a disease of silkworms known as muscardine could be transferred from one silkworm to another, and was caused by a fungus.

Did you know?

When taking monoamine oxidase inhibitors, people should avoid a variety of foods, which include alcoholic beverages, bean curd, broad (fava) bean pods, cheese, fish, ginseng, protein extracts, meat, sauerkraut, shrimp paste, soups, and yeast.

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?

Atropine, along with scopolamine and hyoscyamine, is found in the Datura stramonium plant, which gives hallucinogenic effects and is also known as locoweed.

For a complete list of videos, visit our video library