Answered: Rational behavior can be applied to…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Rational behavior can be applied to

a) individuals

b) politicians

c) government officals

d) all of the above

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Rational behavior explained as a dynamic cycle that depends on making decisions that bring about the best-preferred advantage or utility for a person. The supposition of Rational behavior suggests that individuals would prefer to take activities that advantage them versus activities that are impartial or hurt them. This is general theory and applications to the general economics, it means it applies to all the sector(society) of the economy such as individuals, firms, government, employees, politicians etc. do the best alternative would be

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