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Questions and Answers
True or false: The theory of consumer behavior is concerned with how a consumer decides on the basket of goods and services he/she consumes in order to maximize his/her satisfaction.
True or false: The theory of consumer behavior is concerned with how a consumer decides on the basket of goods and services he/she consumes in order to maximize his/her satisfaction.
True
True or false: The theory of consumer behavior assumes that the consumer has a limited income.
True or false: The theory of consumer behavior assumes that the consumer has a limited income.
True
True or false: The theory of consumer behavior assumes that the consumer is rational.
True or false: The theory of consumer behavior assumes that the consumer is rational.
True
True or false: The theory of consumer behavior assumes that the consumer has relevant information to make a decision.
True or false: The theory of consumer behavior assumes that the consumer has relevant information to make a decision.
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True or false: The theory of consumer behavior assumes that the consumer is unaware of his or her income and the market prices of the commodities.
True or false: The theory of consumer behavior assumes that the consumer is unaware of his or her income and the market prices of the commodities.
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