1. Identify some reasons why household income differ. Which factor is the most important? 2. Consumer choice theory assumes that consumer are rational but we observe a person behaving differently in apprantly similar situations. Is it realistic to think that we account for rational behaviour in every situation?

1. Identify some reasons why household income differ. Which factor is the most important? 2. Consumer choice theory assumes that consumer are rational but we observe a person behaving differently in apprantly similar situations. Is it realistic to think that we account for rational behaviour in every situation?

Economics Today and Tomorrow, Student Edition

1st Edition

ISBN:9780078747663

Author:McGraw-Hill

Publisher:McGraw-Hill

Chapter7: Demand And Supply

Section7.1: Demand

Problem 3R

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