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Question
Which assumption implies the consumer aims at utility maximisation?
Which assumption implies the consumer aims at utility maximisation?
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Solution
The correct option is A Rationality
Rationality of consumers refer to the situation when consumers take
decisions with reason and logic and without any kind of bias. When the consumer takes rational
decision they try to get highest satisfaction by spending least amount
of money.
Rationality of consumers refer to the situation when consumers take decisions with reason and logic and without any kind of bias. When the consumer takes rational decision they try to get highest satisfaction by spending least amount of money.
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