The assumption of rational self-interest means that economic decision makers a.
ID: 1222567 • Letter: T
Question
The assumption of rational self-interest means that economic decision makers
a.
have no concern for the welfare of others
b.
consider the welfare of others to be more important than their own happiness
c.
know with certainty which choice will have the best result
d.
make reasonable decisions based on their expectations of results
e.
do not make incorrect decisions or bad choices
a.
have no concern for the welfare of others
b.
consider the welfare of others to be more important than their own happiness
c.
know with certainty which choice will have the best result
d.
make reasonable decisions based on their expectations of results
e.
do not make incorrect decisions or bad choices
Explanation / Answer
D is Correct, Because both will be better of according to rational self interest only reasonable decisions based on thioer expectations will make both better off the buyer and the seller.
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