In evaluating how businesses or households maximize their economic well-being:
A) you simply need to know where total costs are minimized.
B) you simply need to know where total benefits are maximized.
C) the basic rules for determining the best position for a business or a household are the same.
D) there are completely different rules that must be used--one for businesses, and one for households.

Question

Quizplus · Accepted Answer

The basic principles of economic decision-making are similar for both businesses and households. Both aim to maximize their economic well-being by analyzing costs and benefits to make optimal choices.

In Evaluating How Businesses or Households Maximize Their Economic Well-Being