Economic and the economy by tim taylor

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Question Principles of economic: economic and the economy by Tim Taylor (3rd ed)

1. If people do not have a complete mental picture of their total utility for every level of consumption, how can they find their utility-maximizing consumption choice?

2. As a general rule, is it safe to assume that a change in the price of a good will always have its most significant impact on the quantity demanded of that good, rather than on the quantity demanded of their goods? explain

3. As a general rule, is it safe to assume that a higher wage will encourage significantly more hours worked for all individuals? explain.

4. As a general rule, is it safe to assume that a lower interest rate will encourage significantly lower financial savings for all individuals? Explain

Reference no: EM13995910

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