Alex sees that his neighbors' lawns all need mowing. He offers to provide the service in exchange for a wage of $20 per hour. Some neighbors accept Alex's offer and others refuse. Economists would describe Alex's behavior as:
A. rational self-interest because he is attempting to increase his own income by identifying and satisfying someone else's wants.
B. greedy because he is asking for a high wage that some of his neighbors can't afford to pay.
C. selfish because he is asking for a wage that is higher than others might charge.
D. irrational because some neighbors refused his offer.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Alex sees that his neighbors' lawns all need mowing. He offers to provide the service in exchange for a wage of $20 per hour. Some ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
In the 1950s, a fungus nearly wiped out an entire species of bananas that were produced through cloning. Which explains why the fungus had such a strong impact on the bananas? a. The bananas had a lack of genetic variation. b.
Answers (1)
During the Great Depression, consumer spending was higher than ever in history. Question 2 options: True False
Answers (1)
When the government enacts policies to redistribute income, the objective is to enhance efficiency and a side effect is that the allocation of resources becomes more equal.
Answers (1)
One way to lessen the U. S. government budget deficit is to: A. cut spending. B. increase spending. C. call-in government savings bonds. D. increase government social programs such as welfare, food-stamps, and Medicare.
Answers (1)
Megan is a salesperson for an industrial chemical manufacturer. While reviewing her new leads, Megan learned that two of the leads just signed contracts with one of her major competitors.
Answers (1)
New Questions in Business
What happens to the price and the quantity bought and sold in the market for ice cream if the local dairy farm faces a milk shortage and the newspaper publishes a report on the health benefits of a dairy-free diet
Answers (1)
According to the New York Times, during the mortgage crisis real estate brokers had an incentive to steer borrowers to higher-cost loans.
Answers (1)
Mark is refinishing an antique china cabinet and has already spent $180 on the restoration. He expects to be able to sell the cabinet for $360.
Answers (1)
During the taking of its physical inventory on December 31, Almond Supplies Company incorrectly counted its inventory as $545,000 instead of the correct amount of $554,000.
Answers (1)
When using the indirect method to calculate and report net cash provided or used by operating activities, which of the following is subtracted from net income?1) Bad debts expense. 2) Decrease in income taxes payable. 3) Depreciation expense.
Answers (1)