We have identified 4 assumptions economists often make regarding consumer preferences andutility, titled A1, A2, A3, and A4. For each assumption,a.) provide the name and a definition in words;b.) give an example of this assumption being satisfied;c.) rate this assumption on how realistic you think it is, on a scale of 1 (not realistic at all) to 5(very realistic), and provide a justification for your rating (no credit without justification).Your answer should have the format:A1: NAME? definition in words? example? rating and explanation