Which of the following descriptions of consumer behavior violates the assumption of rational preferences? Explain briefly. a.
Question:
Which of the following descriptions of consumer behavior violates the assumption of rational preferences? Explain briefly.
a. Joseph is confused: He doesn’t know whether he’d prefer to take a job now or go to college full-time.
b. Brenda likes mustard on her pasta, in spite of the fact that pasta is not meant to be eaten with mustard.
c. Brewster says, “I’d rather see an action movie than a romantic comedy, and I’d rather see a romantic comedy than a foreign film. But given the choice, I think I’d rather see a foreign film than an action movie.”
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Macroeconomics Principles and Applications
ISBN: 978-1133265238
5th edition
Authors: Robert e. hall, marc Lieberman
Question Posted: