This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: When an economist assumes that the owners of firms are motivated only by the desire to maximize ... (Read 52 times)

Lin Shi

  • Full Member
  • ***
  • Posts: 131
on: Oct 12, 2022
When an economist assumes that the owners of firms are motivated only by the desire to maximize profits, the economist most likely believes that
◦ the assumption is descriptively accurate, since surveys have been taken and the owners of firms have admitted that their only objective is to maximize profits.
◦ the assumption is inaccurate, since surveys have been taken and the owners of firms have admitted that they care about more than just profits.
◦ individuals entering business are quite narrow in their personal objectives.
◦ all people enter business for their own selfish gain.
◦ it doesn't matter whether or not the assumption is descriptively accurate; what matters is whether a theory built on the assumption predicts well.
Microeconomics ¦ Ragan ¦ 17th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by Lin Shi on Oct 12, 2022

Sophia0717

  • Full Member
  • ***
  • Posts: 162
Reply #1 on: Oct 12, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 39% of students answer this correctly


Lin Shi

  • Member
  • Posts: 131
Reply 2 on: Oct 12, 2022
Thanks for the timely response, appreciate it

samiel-sayed

  • Member
  • Posts: 337
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

Cancer has been around as long as humankind, but only in the second half of the twentieth century did the number of cancer cases explode.

Did you know?

It is important to read food labels and choose foods with low cholesterol and saturated trans fat. You should limit saturated fat to no higher than 6% of daily calories.

Did you know?

It is believed that humans initially contracted crabs from gorillas about 3 million years ago from either sleeping in gorilla nests or eating the apes.

Did you know?

The first oncogene was discovered in 1970 and was termed SRC (pronounced "SARK").

Did you know?

Warfarin was developed as a consequence of the study of a strange bleeding disorder that suddenly occurred in cattle on the northern prairies of the United States in the early 1900s.

When cats mate, the tomcat (male) bites the scruff of the female's neck as she assumes a positi When cats mate, the tomcat (male) bites the scruff of the female's neck as she assumes a positi
Nurses may collaborate with social workers, physicians, and other members of the health care team to Nurses may collaborate with social workers, physicians, and other members of the health care team to
This slave burial service, painted by John Antrobus in 1860, reflects an inversion of power relation This slave burial service, painted by John Antrobus in 1860, reflects an inversion of power relation
J. P. Morgan, the financial genius, staved off ruinous competition among steel firms by combining mo J. P. Morgan, the financial genius, staved off ruinous competition among steel firms by combining mo
Economic objectives of firms Economic objectives of firms
Competitive firms and maximization Competitive firms and maximization
Video: Nerve Impulse Transmission Animation

For a complete list of videos, visit our video library