ECON MICRO
5th Edition
ISBN: 9781337000536
Author: William A. McEachern
Publisher: Cengage Learning
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Chapter 14, Problem 5.12P
To determine
The Limitations challenging the rational economic decision making.
Concept Introduction:
Rational decision making is when people take a logical decision between choices available to gain maximum satisfaction in return.
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Assume that you are a rational person and that you visit a grocery store to buy bananas. Use the marginal benefit and marginal cost (utils) principle, described in Unit 1, to explain how many bananas you will ultimately buy.
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