Which of the following is NOT an example of consumer behavior consistent with the standard assumptions of microeconomic theory?
A) A concern for fairness can influence purchasing patterns.
B) When demand increases, all else being equal, consumers expect price to rise.
C) After a snowstorm, the demand for snow shovels increases.
D) Snow shovels and snow plows are substitute goods.
E) none of the above

Question

Quizplus · Accepted Answer

The standard assumptions of microeconomic theory do not take into consideration concerns for fairness as a factor in consumer behavior. The other options are consistent with the assumptions of microeconomic theory.

Which of the Following Is NOT an Example of Consumer