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Essay 1) Assess the usefulness of the Rational Consumer Choice model in predicting the behavior of consumers with a specific set of preferences and a

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1) Assess the usefulness of the Rational Consumer Choice model in predicting the behavior of consumers with a specific set of preferences and a given budget?

2)

To what extent do you agree that consumers do in fact always behave in a rational manner? In your answer you should consider the work of Thorstein Veblen and the contribution of behavioural economics to the discussion.

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