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What is consume choice theory and it's application? What it the importance then of learning the concepts of this? What is behavioral economics and what

  1. What is consume choice theory and it's application?
  2. What it the importance then of learning the concepts of this?
  3. What is behavioral economics and what is it's relation to consumer choice theory?
  4. What are the usual economic models (traditional) and how are they compared to behavioral economics concepts?
  5. Give 3 examples of behavioral economics concepts.

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