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Focal Point Equilibria Definitely Violate the Principle of Rational Choice

question 30

True/False

Focal point equilibria definitely violate the principle of rational choice.

Recognize key decisions firms make regarding technology and production inputs.
Understand the connection between isocost lines, input prices, and total cost.
Learn about isoquants and how movement across isoquants reflects changes in production output and input usage.
Understand the terminology and concepts related to memory errors.

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