Which of the Following Is the Best Example of the Phenomenon

question 52

Multiple Choice

Which of the following is the best example of the phenomenon of "rational ignorance"?

• A)The ignorance of most voters with regard to the position of the economy's production possibilities boundary.
• B)Consumers are unaware of the quantity supplied by producers,and producers are unaware of the quantity demanded by consumers.
• C)The ignorance of a profit- maximizing firm on the location and shape of its long- run average cost curve,which is extremely difficult to determine.
• D)You choose not to become informed about an important government policy because the benefits of doing so are outweighed by the costs of doing so.
• E)The theory of perfect competition assumes that consumers have full knowledge of all prices,while in reality they know the prices of only the goods and services they purchase.

Recognize the role and significance of international benchmarks and indexes in evaluating investment performance.

Understand the interplay between interest rates and exchange rates in the global financial market.

Understand the role and growth of employee relations in organizations.

Recognize how internal communications contribute to organizational culture and employee morale.

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Definitions:

Adapting to Life

The process by which organisms adjust to changes in their environment in order to survive and reproduce.

Bilaterally Symmetrical

An organism is bilaterally symmetrical if it can be divided into mirror-image halves along a single plane, typical of animals like humans and fish.

Axes

References in a plural context, typically meaning more than one of an imaginary line about which a body rotates or a reference line for the measurement of coordinates.

Sessile

Permanently attached to one location (e.g., coral animals).