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Assume That If an Individual Prefers X to Y and Prefers

question 65

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Assume that if an individual prefers X to Y and prefers Y to Z.Then the consumer must also prefer X to Z.This property is called

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Definitions:

Mental Process

The internal operations of the mind that include thinking, feeling, and decision-making.

Self-Correcting Process

A mechanism or system that is designed to identify and correct errors or deviations from a desired state or norm automatically.

Manipulates Factors

To control or alter variables or components in an experimental setting to determine their effects on an outcome.

Experiment

A method of testing hypotheses by observing the outcomes of controlled conditions.

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