What is a good argument for using the model of the consumer despite the fact that it requires making many simplifying assumptions?
A) It is complex to solve.
B) The assumptions are sometimes realistic.
C) It explains observed patterns of behavior.
D) It is used in many scholarly fields.

Question

Quizplus · Accepted Answer

The fact that the model of the consumer is able to explain observed patterns of behavior despite making simplifying assumptions is a strong argument for its use. Ultimately, the goal of any model is to provide insight and understanding of the subject being studied, and if the model is able to do so effectively, then it is a valuable tool.

What Is a Good Argument for Using the Model of the Consumer