Behavioral economics is the study of:
A) rational behavior under the assumptions of utility maximization and perfect knowledge.
B) economic behavior when economic agents are not rational.
C) economic theories that focus on the psychological aspects of consumer and producer behavior.
D) economic problems that are not considered by traditional economic theory.
Correct Answer:
Verified
Q2: The assumption that consumers have clear preferences
Q3: A reference point may be anchored on:
A)
Q4: Leaving a large tip at a restaurant
Q5: Suppose that after an increase in price,
Q6: In traditional economic theory, producers are assumed
Q7: In the classroom experiment where a mug
Q8: The assumption that consumer choices are utility-maximizing
Q9: In traditional economic theory, consumers are assumed
Q10: In the classroom experiment where a mug
Q11: An example of a reference point is
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