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Microeconomics 6th Edition by Robert Hall, Shirley Kuiper, Marc Lieberman
Edition 6ISBN: 978-1133708735Microeconomics 6th Edition by Robert Hall, Shirley Kuiper, Marc Lieberman
Edition 6ISBN: 978-1133708735 Exercise 3
Which of the following descriptions of consumer behavior violates the assumption of rational preferences ? Explain briefly.
a. Joseph is confused: He doesn't know whether he'd prefer to take a job now or go to college full-time.
b. Brenda likes mustard on her pasta,in spite of the fact that pasta is not meant to be eaten with mustard.
c. Brewster says,"I'd rather see an action movie than a romantic comedy,and I'd rather see a romantic comedy than a foreign film. But given the choice,I think I'd rather see a foreign film than an action movie."
a. Joseph is confused: He doesn't know whether he'd prefer to take a job now or go to college full-time.
b. Brenda likes mustard on her pasta,in spite of the fact that pasta is not meant to be eaten with mustard.
c. Brewster says,"I'd rather see an action movie than a romantic comedy,and I'd rather see a romantic comedy than a foreign film. But given the choice,I think I'd rather see a foreign film than an action movie."
Explanation
Verified
Verified
a)Inability to decide the likely consump...
Microeconomics 6th Edition by Robert Hall, Shirley Kuiper, Marc Lieberman
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