Question: We said, utility is the satisfaction we get from consumption, as consumers. In economic theory, we assume that consumers try to maximize the utility they

We said, utility is the satisfaction we get from consumption, as consumers. In economic theory, we assume that consumers try to maximize the utility they derive from their consumption subject to a budget constraint.

1) When you are shopping, do you think about your utility and budget constraints you face?

2) Are there characteristics of your shopping and consumption that you think the concept of utility maximization subject to a budget constraint does not capture?

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