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Katerina likes apples better than she likes bananas, but she likes bananas better than she likes oranges. Given a choice between oranges and apples though, Katerina will take the oranges every time. What can we say about Katerina's preferences in terms of the assumptions of rational choice theory? They violate the consistency assumption. They violate the completeness assumption. They violate the transitivity assumption. They satisfy all the assumptions of rational choice theory Isaiah would rather take the bus to work than walk, but he'd rather take a train than walking or taking a bus. What can we say about Isaiah's preferences in terms of the assumptions of rational choice theory? They violate the consistency assumption. They violate the completeness assumption. They violate the transitivity assumption. They satisfy all the assumptions of rational choice theory

Katerina likes apples better than she likes bananas, but she likes bananas better than she likes oranges. Given a choice between oranges and apples though, Katerina will take the oranges every time. What can we say about Katerina's preferences in terms of the assumptions of rational choice theory? They violate the consistency assumption. They violate the completeness assumption. They violate the transitivity assumption. They satisfy all the assumptions of rational choice theory Isaiah would rather take the bus to work than walk, but he'd rather take a train than walking or taking a bus. What can we say about Isaiah's preferences in terms of the assumptions of rational choice theory? They violate the consistency assumption. They violate the completeness assumption. They violate the transitivity assumption. They satisfy all the assumptions of rational choice theory

Understanding Business
Understanding Business
12th Edition
ISBN:9781259929434
Author:William Nickels
Publisher:William Nickels
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
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Katerina likes apples better than she likes bananas, but she likes bananas better than she likes oranges. Given a choice between oranges and apples though, Katerina will take the oranges every time. What can we say about Katerina's preferences in terms of the assumptions of rational choice theory? They violate the consistency assumption. They violate the completeness assumption. They violate the transitivity assumption. They satisfy all the assumptions of rational choice theory
Transcribed Image Text:Katerina likes apples better than she likes bananas, but she likes bananas better than she likes oranges. Given a choice between oranges and apples though, Katerina will take the oranges every time. What can we say about Katerina's preferences in terms of the assumptions of rational choice theory? They violate the consistency assumption. They violate the completeness assumption. They violate the transitivity assumption. They satisfy all the assumptions of rational choice theory
Isaiah would rather take the bus to work than walk, but he'd rather take a train than walking or taking a bus. What can we say about Isaiah's preferences in terms of the assumptions of rational choice theory? They violate the consistency assumption. They violate the completeness assumption. They violate the transitivity assumption. They satisfy all the assumptions of rational choice theory
Transcribed Image Text:Isaiah would rather take the bus to work than walk, but he'd rather take a train than walking or taking a bus. What can we say about Isaiah's preferences in terms of the assumptions of rational choice theory? They violate the consistency assumption. They violate the completeness assumption. They violate the transitivity assumption. They satisfy all the assumptions of rational choice theory
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