Top Posters
Since Sunday
r
4
L
4
3
d
3
M
3
l
3
V
3
s
3
d
3
a
3
g
3
j
3
Home Q & A Board Other Fields Homework Help Business Economics
New Topic  
futurenurse15 futurenurse15
wrote...
Go to Answer
Posts: 158
Rep: 0 0
A year ago
When an economist assumes that the owners of firms are motivated only by the desire to maximize profits, the economist most likely believes that

▸ the assumption is descriptively accurate, since surveys have been taken and the owners of firms have admitted that their only objective is to maximize profits.

▸ the assumption is inaccurate, since surveys have been taken and the owners of firms have admitted that they care about more than just profits.

▸ individuals entering business are quite narrow in their personal objectives.

▸ all people enter business for their own selfish gain.

▸ it doesn't matter whether or not the assumption is descriptively accurate; what matters is whether a theory built on the assumption predicts well.
Textbook 
Microeconomics

Microeconomics


Edition: 17th
Author:
Read 38 times
1 Reply
Replies
Answer verified by a subject expert
birdnuggetbirdnugget
wrote...
#1
Posts: 166
Rep: 1 0
A year ago
Sign in or Sign up in seconds to unlock everything for free
More solutions for this book are available here
1

Related Topics

futurenurse15 Author
wrote...

A year ago
Thank you, thank you, thank you!
bahajo
wrote...

Yesterday
Good timing, thanks!
hpascoe
wrote...

2 hours ago
Smart ... Thanks!
New Topic      
Quick Reply
Explore
Post your homework questions and get free online help from our incredible volunteers
  1826 People Browsing
Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook
Live Chat
Related Images
  
 148
  
 1351
  
 4491
Your Opinion
Which of the following is the best resource to supplement your studies:
Votes: 365
Previous poll results: What's your favorite coffee beverage?