Respuesta :
Economists assume when evaluating the utility-maximizing decision-making process option(I), (III), (V), and (VI) i.e, Consumers are rational, Consumers have limited incomes, Consumers can rank preferences, and Consumers acknowledge prices.
The utilitarian philosophers Jeremy Bentham and John Stuart Mill invented utility maximization first. The utility maximization problem is the dilemma that customers face in microeconomics: "How should I spend my money to maximize my utility?" An example of an optimal decision problem is this. As it demonstrates how customers distribute their income, utility maximization is a key idea in consumer theory. Because they are reasonable, customers aim to gain the most for themselves.
By evaluating the marginal utility of two options and choosing the one that has the highest total utility within the budgetary constraints, one can identify the combination of products or services that maximizes utility. The choice that results in a greater degree of satisfaction has an impact on the decision.
To know more about utility maximization refer to: https://brainly.com/question/14141673
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The complete question is:
Below is a list of assumptions about decision-making.
1. Consumers are rational.
2. Consumers are selfish.
3. Consumers have limited incomes.
4. Consumers have limited wants.
5. Consumers can rank preferences.
6. Consumers acknowledge prices.
What do economists assume when evaluating the utility-maximizing decision-making process?
