To determine the amount of time that a person will decide to devote to watching online videos each​ week, an economist makes the assumption that the individual will feel overwhelmed by the sheer volume of videos available online and willrespond by using a rule of thumb. in examining the above​ decision-making process, the approach that the economist is following can best be described as the one that relies on

Suppose farmer lane grows and sells cotton in a perfectly competitive industry. the market price of cotton is $1.64 per kilogram, and his marginal cost of production is $1.44 per kilogram, which increases with output. assume farmer lane is currently earning a profit. can farmer lane do anything to increase his profit in the short run? farmer lane: a. cannot do anything to increase his profit. b. may or may not be able to increase his profit. c. can increase his profit by raising his price. d. can increase his profit by producing more output. e. can increase his profit by shutting down.