Economists Assume That the Goal of Consumers Is to Maximize

question 79

True/False

Economists assume that the goal of consumers is to maximize total utility.

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Definitions:

Predictable

Describing an event or outcome that can be foreseen or anticipated based on current knowledge or patterns.

Behavior

The actions or reactions of an individual or group in response to external or internal stimuli.

Determinism

Determinism is the philosophical belief that all events, including moral choices, are determined completely by previously existing causes.

Unpredictable

Describes something that is not able to be predicted or anticipated due to its random or variable nature.