Which of the following does not correctly explain about the purposeful behavior that reflects "rational self-interest? 1) Sellers try to make the most profits possible from the sales of their products as many as possible. 2) Consumers spend their incomes to get the maximum benefit or satisfaction from the goods and services they purchase. Producers allocate their limited resources to minimize their costs to achieve a 3) certain level of production. 4) People care for nothing but his or her own goal since there is a tradeoff problem caused by limited resources.

Which of the following does not correctly explain about the purposeful behavior that reflects "rational self-interest? 1) Sellers try to make the most profits possible from the sales of their products as many as possible. 2) Consumers spend their incomes to get the maximum benefit or satisfaction from the goods and services they purchase. Producers allocate their limited resources to minimize their costs to achieve a 3) certain level of production. 4) People care for nothing but his or her own goal since there is a tradeoff problem caused by limited resources.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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