Why is the economic assumption \"more is better\" a good fit for the real world?
ID: 1225410 • Letter: W
Question
Why is the economic assumption "more is better" a good fit for the real world?
Multiple Choice
In most cases, consumption (or possession) of another item is actually better.
Because of free disposal, even goods that do not provide additional utility do not hinder/hurt a person
all of the above
none of the above
a)In most cases, consumption (or possession) of another item is actually better.
b)Because of free disposal, even goods that do not provide additional utility do not hinder/hurt a person
c)all of the above
d)none of the above
Explanation / Answer
The economic assumption "more is better" a good fit for the real world because all of the above mentioned reasons are true.
In most cases, consumption (or possesion) of another item is actually better because consumer always think that they will better off by consuming additional unit.
And the second reason is true because they think that by not consuming additional unit of a good will not hurt them anyway.
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