Business, 16.04.2020 00:11 AllenTTG

Each statement below is part of an economic model. Indicate whether the statement is a prediction of cause and effect or an assumption.

a. People behave rationally: .
b. If the price of a good falls, people will consume more of that good: .
c. Mass starvation will occur as population outgrows the food supply: .
d. Firms want to maximize profits:_ .

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Each statement below is part of an economic model. Indicate whether the statement is a prediction of...