Which of the Following Statements Is False

question 64

Multiple Choice

Which of the following statements is false?

• A) Recognizing tradeoffs is an essential part of good decision making
• B) Most government policies provide people with incentives to take certain actions and avoid others
• C) People will pursue an action as long as it is beneficial for them to do so
• D) Every choice involves a tradeoff

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Definitions:

Price Discrimination

A pricing strategy where different prices are charged to different consumers for the same product or service, often based on their willingness to pay.

Deadweight Loss

The loss of economic efficiency that occurs when the equilibrium for a good or a service is not achieved or is unattainable.

Price Discriminate

The practice of selling the same product or service at different prices to different customers, often based on their willingness to pay.

Hardcover Books

Books characterized by rigid covers and spine, typically designed for durability and long-term use.