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.
Chapter4: Utility Maximization And Choice
Section: Chapter Questions
Problem 4.12P
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Transcribed Image Text: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.
Consumers spend their incomes to get the maximum benefit or satisfaction
O 2)
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.
Question 14
Listen
Which of the following is NOT the factors of production?
1)
money.
2) land.
3) labor.
4) entrepreneur ability.
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