Question: The textbook model assumes that individuals have enough knowledge to follow the economic decision rule. a. How did you decide what college you would attend?

The textbook model assumes that individuals have enough knowledge to follow the economic decision rule.

a. How did you decide what college you would attend?

b. Did you have enough knowledge to follow the economic decision rule?

c. For what type of decisions do you not use the economic decision rule?

d. What are the implications for economic analysis if most people don’t follow the economic decision rule in many aspects of their decisions? (Post-Keynesian)

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