Pranav Is Deciding What to Drink from a Cooler That

question 109

Multiple Choice

Pranav is deciding what to drink from a cooler that contains cans of soda pop and iced tea. When Pranav chooses iced tea, we assume that he will receive more utility from drinking iced tea than soda pop. Which economic concept is this conclusion based on?

• A)Revealed preference
• B)Utility minimization
• C)Satisfaction scales
• D)Rational behavior

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