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Question 14 (4 points) Economics assumes that people are rational, self-interested, and respond to incentives. True False 

          Question 14 (4 points)
Economics assumes that people are rational, self-interested, and respond to
incentives.
True
False
Question 14 (4 points) Economics assumes that people are rational, self-interested, and respond to incentives. True False

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Principles of Economics
Principles of Economics
Gregory Mankiw 8th Edition
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Transcript

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00:01 The economic idea that states people are rational assumes that people in the market make decisions using all available information they have.
01:03 They compare the benefits and costs of each action before deciding which action has the best or highest benefits that outweighs the costs...
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