Question
When economists describe the theory of consumer choice, they a . portray people as simple and methodical with perfectly predictable patterins of behavior. b .
When economists describe the theory of consumer choice, they
a portray people as simple and methodical with perfectly predictable patterins of behavior.
b assert that consumers decide which goods and services give them the greatest utility within their limited incomes.
c point out that consumers rarely consider utility in their purchase decisions; they look at other factors like convenience, peer behavior, and price.
d assert that the retail price is the only variable consumens really constder in making their purchasing decisions.
e admit that consumer behavior is random and there is no credible economic theory to explain the phenomenon.
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