Explain how microeconomics provides answers to this, outlining key insights from microeconomics theory on Choice under Uncertainty.
1. How do rational individuals decide what to buy? a) Explain how microeconomics provides answers to this, outlining key insights from microeconomics theory on Rational Consumer Choice. b) Why might optimal choices vary between individuals? c) Why might optimal choices change over? With respect to parts b) and c), provide interesting illustrative example(s) to compare […]