Do you agree with the following statement: The problem with economics is that it assumes that consumers

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Do you agree with the following statement: "The problem with economics is that it assumes that consumers and firms always make the correct decisions. But we know that everyone makes mistakes?"

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Microeconomics

ISBN: 9780135952955

8th Edition

Authors: Glenn Hubbard, Anthony Patrick O Brien

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Question Posted: Nov 01, 2017 06:42 AM

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Do you agree with the following statement: The problem with economics is that it assumes that consumers

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Economists assume that people are rational in the sense that they use all available information ...View the full answer

Microeconomics

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