Rational consumers analyze costs and benefits when making decisions.
What is rational consumer?
- When someone acts in their own self-interest and maximizes their utility in order to benefit the most from their purchases, this is seen as rational consumer behavior.
- As a result, all choices are motivated by self-interest.
What is an example of a reasonable consumer?
- The decision between two cars is an illustration of a sensible customer. Because Car B is less expensive than Car A, the consumer chooses to buy it.
- Even though the rational choice theory is clear-cut and logical, it frequently conflicts with actual events.
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