The assumption that consumer choices are utility-maximizing is:
A) a main axiom of behavioral economics.
B) an assumption that behavioral economics calls into question.
C) a logical conclusion of observed behavior.
D) a basic assumption of basic economic theory that carries over to behavioral economics.
Correct Answer:
Verified
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
Q9: In traditional economic theory, consumers are assumed
Q10: In the classroom experiment where a mug
Q11: An example of a reference point is
Q12: Finish the following sentence: A reference point
Q13: The basic theory of consumer behavior is
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