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1.2.1 Rational decision making

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Question 3

A recent consumer survey suggests that 68% of broadband users in Spain are planning to switch service providers in the coming year.

Which of the following describes the key underlying assumptions of rational decision-making in traditional economic theory?

A

Consumers aim to minimise utility and firms aim to maximise profits

B

Consumers aim to maximise utility and firms aim to maximise profits

C

Consumers aim to maximise utility and firms aim to minimise revenue

D

Consumers aim to minimise utility and firms aim to minimise costs

Markscheme

1.2.1 Rational decision making Questions

  1. A Level
  2. /Economics
  3. /1.2.1 Rational decision making

6 exam-style questions on Edexcel A A Level Economics 1.2.1 Rational decision making. Each one has a worked solution and a mark scheme showing where the marks go.

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