Question: Do you agree with the following statement: The problem with economics is that it assumes that consumers and firms always make the correct decisions. But
Do you agree with the following statement: "The problem with economics is that it assumes that consumers and firms always make the correct decisions. But we know that everyone makes mistakes?"
Step by Step Solution
3.18 Rating (159 Votes )
There are 3 Steps involved in it
Economists assume that people are rational in the sense that they use all available information ... View full answer
Get step-by-step solutions from verified subject matter experts
Document Format (1 attachment)
1347-B-A-A-M-E(5).docx
120 KBs Word File
