Question: Explain: a. Before economic growth, there were too few goods; after growth, there is too little time. b. It is irrational for an individual to

Explain:
a. Before economic growth, there were too few goods; after growth, there is too little time.
b. It is irrational for an individual to take the time to be completely rational in economic decision making.
c. Telling Santa what you want for Christmas makes sense in terms of utility maximization.

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