Question: What assumption expected utility theory does not make about people and firms? Group of answer choices People and firms are self-interested entities People and firms

What assumption expected utility theory does not make about people and firms? Group of answer choices People and firms are self-interested entities People and firms try to maximize their desired outcomes (utility for people and profits for firms) under resource constraints. People can rank rationally possible outcomes and make independent decisions based on all relevant information to maximize their utilities. People are irrational

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