One criticism of the cobweb model is that:
A)students form rational expectations of the effect of changes in labor demand and adjust their supply responses accordingly
B)the prediction of chronic boom-bust cycles is not borne out in the real world
C)students adjust career decisions based on starting salaries rather lifetime earnings
D)demand is likely to shift as the market approaches equilibrium,so that equilibrium is never achieved

Question

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The Answer of One criticism of the cobweb model is that:
A)students form rational expectations of the effect of changes in labor demand and adjust their supply responses accordingly
B)the prediction of chronic boom-bust cycles is not borne out in the real world
C)students adjust career decisions based on starting salaries rather lifetime earnings
D)demand is likely to shift as the market approaches equilibrium,so that equilibrium is never achieved

One Criticism of the Cobweb Model Is That