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Homework answers / question archive / Purposeful behavior and marginal analysis a
Purposeful behavior and marginal analysis
a. explain why there is "no free lunch".
b. are part of the economic perspective.
c. are relevant in short-term but not long-term analysis.
d. explain the "fallacy of composition".
The economic perspective relies on the basic assumption that the environment is one of the types of economic goods whose availability is scarce though it has multiple uses. Furthermore, it can be categorized as:
