Explain the key differences between neoclassical economics and progressive political economy.
-What are the two key assumptions that neoclassical economists make about individuals? What are those assumptions used for?

Question

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The Answer is Neoclassical economics assumes that individuals make rational decisions or choices and that these choices are made in the individual's own best self-interest These two assumptions are used to deduce how individuals as members of households or owners of businesses made decisions about consumption and production

Explain the Key Differences Between Neoclassical Economics and Progressive Political