would rise to P2, and the quantity would fall to Q2 The new solution satisfies the efficiency condition [1] See Report of the Committee on Commerce, Science, and Transportation, Children’s Protection From Violent Programming Act, Senate Report 106–509 (October 26, 2000), Washington, D.C.: U.S Government Printing Office, 2000, and Michael Rich, “Violent Video Games Testimony,” Chicago City Council, October 30, 2000, at http://www.aap.org/advocacy/richvideogameviolence.pdf [2] Mark Rosenberg, “Successful State Strategies,” Adolescent Health Leadership Forum, December 6, 2003͘ [3] Common property resources are sometimes referred to as open access resources 6.4 Review And Practice Summary Economists insist that individuals not make choices willy-nilly Rather, economists assume that individuals make choices in a purposeful way, one that seeks the maximum value for some objective We assume that consumers seek to maximize utility and that firms seek to maximize profits Whatever is being maximized, choices are based on the marginal decision rule Following this rule results in an allocation that achieves the greatest degree of utility or profit possible Attributed to Libby Rittenberg and Timothy Tregarthen Saylor URL: http://www.saylor.org/books/ Saylor.org 342