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Answer to Question #53242 in Microeconomics for helena

Question #53242
In neoclassical microeconomics it is assumed that the prices rational agents respond to are:

A Its absolute level on any given day
B Its absolute level on any given day divided by the relevant price index
C Its absolute level on any given day minus any external costs of the production of the good
D Its price relative to the prices of other goods and services

7 In neoclassical microeconomics it is assumed that the rational agents make decisions based on:

A Average net returns to a prospective action
B Marginal net returns to a prospective action
C Costs already incurred
D None of the above because neoclassical microeconomics does not assume rational behaviour
Expert's answer
In neoclassical microeconomics it is assumed that the prices rational agents respond to are:

D Its price relative to the prices of other goods and services

7. In neoclassical microeconomics it is assumed that the rational agents make decisions based on:

B Marginal net returns to a prospective action

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