The Strongest Predictor of a Person's Happiness Is ____

question 70

Multiple Choice

The strongest predictor of a person's happiness is ____.

• A)the person's income (relative to the average income for his/her demographic)
• B)the number of blood relatives with whom the person regularly communicates
• C)the person's level of physical health
• D)how happy the person was 10 years earlier

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Definitions:

Price-Searcher Firm

A company that operates in a market with differentiated products and has some control over the price of its product because it faces a downward-sloping demand curve.

Profit Maximization

is the process or strategy by which a firm adjusts its production and sale levels to achieve the highest possible profit.

Price Takers

Firms or individuals who accept the market price as given and have no influence to change it.

Product Variety

The range of different goods or services offered by a company or available in a market.