Consumer Choice Theory

User Generated

dmlfjyt

Economics

Description

  • Consumer Choice Theory assumes that humans are rational beings.
  • Is this a valid assumption?
  • Can you think of any examples of irrational behavior?
  • Does it matter whether or not humans are perfectly rational? Explain.

answer these question in one paragraph(150 words)

User generated content is uploaded by users for the purposes of learning and should be used following Studypool's honor code & terms of service.

Explanation & Answer

Attached.

Surname1

Name
Tutor
Course
Date

Consumer choice theory is the study of human expenditure against their preference and budget
constraints. The theory assumes human beings are rational in the aspect that they buy
commodities that fully maximize their utility. Lo...


Anonymous
Really helpful material, saved me a great deal of time.

Studypool
4.7
Trustpilot
4.5
Sitejabber
4.4

Related Tags