Which of the Following Is True

question 81

Multiple Choice

Which of the following is true?

• A)​Economic reasoning implies that individuals will acquire all possible information about a choice before making it.
• B)​It is not rational for people to make decisions that could turn out to be mistaken.
• C)​Reducing information costs to consumers and suppliers could permit more intelligent market decisions and lead to greater satisfaction.
• D)​Occupational licensing laws generally act to protect misinformed consumers from getting shoddy services and enhances competition, leading to lower prices.

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Definitions:

Seafloor Spreading

A geologic process where new oceanic crust is formed at mid-ocean ridges and slowly moves away from the ridge, contributing to continental drift.

Subduction

The process by which one tectonic plate moves under another, sinking into the Earth's mantle.

South Atlantic

The portion of the Atlantic Ocean lying between the eastern coasts of South America and the western coasts of Africa.

Mid-Ocean Ridges

Underwater mountain ranges formed by plate tectonics, where new oceanic crust is created through volcanic activity.