Reference no: EM13985627
1. Economists believe that
a. people who choose to promote the interests of others cannot be acting rationally in their own self-interest.
b. people show concern only for those whom they know personally.
c. charitable donations would disappear if tax deductions for charitable giving were eliminated.
d. the notion of self-interest rules out concern for others.
e. concern for the welfare of others is consistent with the concept of self-interest.
2. A decrease in demand will cause a (n)
a. increase in supply
b. decrease in supply
c. increase in quantity
d. increase in equilibrium price
e. decrease in equilibrium price
3. With the total cost and total revenue curves, we measure economic profit by the ______ between the two curves. With the per-unir curves, we measure economic profit by a (n) ______.
a. vertical distance; horizontal distance
b. vertical distance;area
c. area; area
d. area; vertical distance
e. horizontal distance; area
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