Ask Question
BusinessBusiness
Today, 09:34

Suppose the U. S. government encouraged consumers to trade in their old automobiles for more efficient, new models by paying up to $5,000 for the old automobiles. These consumers who did trade in their old automobiles to take advantage of the government offer would be exemplifying the economic idea that

+3
Answers (1)
  1. Today, 11:48
    0
    people are Rational

    Explanation:

    Suppose the U. S. government encouraged consumers to trade in their old automobiles for more efficient, new models by paying up to $5,000 for the old automobiles. These consumers who did trade in their old automobiles to take advantage of the government offer would be exemplifying the economic idea that they are rational.

    Rationality refers to Purposeful Behavior which means that individuals behave/make choices/decisions that will maximize their satisfaction, pleasure or utility.

    Being rational in economics means that people will weigh the cost and benefits before deciding in favor of higher benefits. Hence in the scenario people will love to change an old car for a new one and still get $5000.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Suppose the U. S. government encouraged consumers to trade in their old automobiles for more efficient, new models by paying up to $5,000 ...” 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
Any group within or outside the organization that has an interest in the organization's performance is called
Answers (1)
Tungsten, Inc. manufactures both normal and premium tube lights. The company allocates manufacturing overhead using a single plantwide rate with machine hours as the allocation base. Estimated overhead costs for the year are $ 104 comma 000.
Answers (1)
As you may know, Starbucks is in a battle with McDonald's to capture the early morning coffee customer. Last month, our location sold 180 lattes per day, while the McDonald's down the street sold 220. We need to beat McDonald's next month
Answers (1)
Baka Corporation applies manufacturing overhead on the basis of direct labor-hours. At the beginning of the most recent year, the company based its predetermined overhead rate on total estimated overhead of $244,200 and 9,200 estimated direct
Answers (1)
A U. S. mutual fund buys stocks issued by a Columbian company. This purchase is an example of a. U. S. foreign direct investment. It increases Columbia's net capital outflow. b. U. S. foreign portfolio investment.
Answers (1)
New Questions in Business
Complete the recursive formula of the geometric sequence 500, 200, 80, 32 ...
Answers (1)
Why would an advertiser use a mixed-media approach? It is less expensive than a homogeneous media mix It gives more exposure than a heterogeneous media plan It is easier to schedule than any other type of media mix It produces an effect where the
Answers (1)
Select the answer that best decribes what an opportunity cost is
Answers (1)
Suppose the U. S. government encouraged consumers to trade in their old automobiles for more efficient, new models by paying up to $5,000 for the old automobiles.
Answers (1)
What are the principal accounting reports involved in the financial reporting process? in general terms, what is the purpose of these reports?
Answers (1)
Home » Business » Suppose the U. S. government encouraged consumers to trade in their old automobiles for more efficient, new models by paying up to $5,000 for the old automobiles.
Sign Up Forgot Password?