"Impulse buying" is often the result of a
A) rational optimizing decision in response to incentives and prices.
B) precise estimation of one's marginal utilities and price comparisons.
C) systematic nonrational behavior that marketers can take advantage of.
D) random error in a consumer's behavior that is not predictable.
Correct Answer:
Verified
Q102: Behavioral economists believe that the human brain
Q103: Heuristics
A)are rules of thumb that generate decisions
Q104: Behavioral economists criticize neoclassical models as being
A)messy
Q105: According to behavioral economists, the human brain
A)makes
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Q108: Regarding people's preferences, behavioral economists observe that
Q109: Neoclassical economic models make simplifying assumptions about
Q110: Neoclassical economics and behavioral economics disagree on
Q111: When people make decisions that go against
Q112: According to behavioral economics, advertising works because
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