2023-08-21T20:28:40+03:00[Europe/Moscow] en true <p>What is a rational individual?</p>, <p>Completeness</p>, <p>Continuity</p>, <p>Reflexive</p> flashcards

microeconomics

rationality axiom

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  • What is a rational individual?

    Who maximizes his/her utility given the constraints

  • Completeness

    consumer must be able to rank preferences

  • Continuity

    IC must be continuous

  • Reflexive

    Every bundle is as good as itself