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Card 7 / 10: Individuals may not act in the rational, calculating way described by the economic model of decision making, measuring utility and costs at the margin, but can you make a case that they behave approximately that way?
Answer:
When individuals compare cost per unit in the grocery store, or characteristics of one product versus another, they are behaving approximately like the model describes.
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Microeconomics, OpenStax-CNX Web site. Download for free at http://cnx.org/content/col11613/latest
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