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Economics
About this Free Flashcard Deck
Last update by
jillianprice08
on 11/02/2009
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Economics
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Flashcard Deck Tags
Chapter 8
,
Economics
Flashcard Review
24
true or false When choosing between two ...
25
Why, for inferior goods, when price ...
26
the theory of bounded rationality ...
27
a focal point equilibrium is an ...
28
economists' theory of choice assumes:
29
the equilibrium is where the ...
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Free Flashcard From Economics
Question:
true or false When choosing between two goods, a rational consumer will choose that product that give the greatest total utility per dollar
Answer:
false; greatest MARGINAL utility per dollar