Which of the Following Is Not an Assumption of the Rational

question 39

Multiple Choice

Which of the following is not an assumption of the rational model of decision making?

• A) The decision maker uses a function to order preferences.
• B) The decision maker has a goal to maximize or minimize.
• C) The decision maker searches for less than optimal solutions.
• D) The decision maker knows all alternatives and their results.

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Definitions:

Inversely Proportional

A relationship between two variables where their product is constant. When one variable increases, the other decreases proportionally.

Daily Demand

The total quantity of a good or service that consumers want to purchase over the course of a single day.

Radical Expression

An expression involving roots, such as square roots or cube roots, of numbers.

Calculator

A calculator is an electronic or mechanical device used to perform arithmetic calculations ranging from basic operations like addition and subtraction to complex functions and equations.