Consumer rationality is a condition when a consumer makes choices mostly based on his or her preferences where the consumer chooses alternatives that he mostly prefer.
Conditions for consumer rationality:
-If the consumer aims at maximization of his or her utility.
-If the consumer's income and market prices are present.
-If the consumer is certain of all the relevant and required information.
franco crick answered the question on March 9, 2018 at 16:54
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