Economists Who Study Behavior Mostly Conclude That People ________ Well-Being,but

question 43

Multiple Choice

Economists who study behavior mostly conclude that people ________ well-being,but sometimes ________.

• A) try to maximize their; make mistakes
• B) try to maximize their; maximize the effect of bad choices
• C) try to achieve some; change their minds just because "that was then,this is now"
• D) don't worry too much about their; get lucky with a good decision
• E) believe they maximize their; don't worry too much about it

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Definitions:

Able

Generally refers to having the capacity, skill, or qualifications to perform an action or task.

Pay

The compensation received by an employee from an employer in exchange for work performed, typically provided as wages or salary.

Price Ceiling

A legally enforced upper limit on the price that can be asked for a product or service, beyond which it is not permissible to go.

Equilibrium Price

The market price where the amount of goods sellers are willing to sell equals the amount of goods buyers are willing to buy, creating a state of balance in the market.