One reason that consumers and businesses might not act rationally is
A)it is difficult to obtain enough information about the elasticities of demand and supply.
B)they may not realize their actions are inconsistent with their goals.
C)consumer tastes change constantly.
D)they do not always value fairness when they make choices.

Question

Quizplus · Accepted Answer

Consumers and businesses may not always act rationally because they may not realize that their actions are inconsistent with their goals. This can be due to a lack of information, impulsive decision-making, or other factors that lead them to make choices that do not align with their long-term interests or values. As a result, they may end up making suboptimal decisions that can have negative consequences for themselves or others.

One Reason That Consumers and Businesses Might Not Act Rationally