In the economic model of consumer behavior, rational self-interest would likely be:
A) a key variable.
B) the hypothesis of the model.
C) a behavioral assumption.
D) a prediction of the model.
E) a method of testing the model.

Question

Quizplus · Accepted Answer

Rational self-interest is an assumption in the economic model of consumer behavior, meaning that individuals make decisions based on their perceived self-interest and their own rational calculations. It is one of the basic behavioral assumptions in the economic model.

In the Economic Model of Consumer Behavior, Rational Self-Interest Would