Question: According to consumer choice theory, what will a rational consumer do? Always select the bundle of goods below his/her budget constraint Compare two bundles of

According to consumer choice theory, what will a rational consumer do?

  • Always select the bundle of goods below his/her budget constraint
  • Compare two bundles of goods and select the one which provides the best utility
  • Always choose a bundle of goods that has the best quality
  • Choose the bundle of goods that is least expensive, in order to maximize utility

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