Rational Ignorance Exists Primarily Because

question 94

Multiple Choice

Rational ignorance exists primarily because

• A) voters are apathetic.
• B) politicians tend to voice the same general views,so there is no reason to learn more about the issues.
• C) the costs of becoming informed outweigh the benefits of doing so.
• D) any of the above

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Definitions:

Linear Demand Curve

A demand curve that shows a constant relationship between price and quantity demanded, typically resulting in a straight line when graphed.

Total Revenue

The overall amount of money generated by a business from selling its goods or services, without subtracting any costs.

Price Elasticity

A measure of the responsiveness of the quantity demanded or supplied of a good to a change in its price, indicating how changes in price affect consumer demand or supply levels.

Linear Demand Curve

Represents a straight-line graph which shows the inverse relationship between the price of an item and the quantity demanded, assuming other factors remain constant.