A defense for the assumption that consumers maximize is that
A) consumers never make mistakes.
B) mistakes by the consumer are not likely to last for a long time.
C) it allows for many possible outcomes.
D) mistaken consumers may receive counseling from the government.
E) mistakes by consumers only last for two periods.

Question

Quizplus · Accepted Answer

Consumers learn from their mistakes over time, adjusting their behavior to better maximize their utility.

A Defense for the Assumption That Consumers Maximize Is That