Author Question: In an economic model of consumer behavior, rational self-interest would likely be a. a key variable ... (Read 47 times)

acc299 · **on:** Jul 1, 2018

In an economic model of consumer behavior, rational self-interest would likely be
a. a key variable
b. the hypothesis of the model
c. a behavioral assumption
d. a prediction of the model
e. a method of testing the model

Question 2

The other-things-constant assumption
a. allows the economist to make useful predictions
b. is a prediction
c. applies only to consumers' decisions, not to those of firms
d. forces the economist to ignore reality, where things are constantly changing
e. implies rational self-interest on the part of all economic actors