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Rational choice in economics refers to the fact that a. The preferences of the consumer are based on well founded moral principles. b. Preferences can
Rational choice in economics refers to the fact that
a. The preferences of the consumer are based on well founded moral principles.
b. Preferences can be described by a monotonic utility function.
c. The consumer chooses a bundle A from her opportunity set such that there does not exist another bundle B in the opportunity set that is strictly preferred to A.
d. None of the above.
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