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Elementary,Middle School,High School,College,University,PHD
Teaching Since: | May 2017 |
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Questions Answered: | 66690 |
Tutorials Posted: | 66688 |
MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
 1-The theory of rational behavior
options:
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implies that people will always take the time to make perfectly informed decisions.
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is an assumption that economists make to have a useful model for how decisions are made.
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assumes that people will behave in the best interest of society as a whole.
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none of the answers is correct
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2-Elasticity is relevant when trying to understand
options:
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how a change in price affects quantity supplied, how a change in price affects quantity demanded, and how raising a tax on a good affects the revenue from the tax.
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how a change in quantity demanded affects price, how a change in quantity supplied affects price, and the burden of taxes on consumers.
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how a change in quantity demanded affects price and how a change in quantity supplied affects price.
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the burden of taxes on consumers.
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