Microeconomics:
Microeconomics:
4th Edition
ISBN: 9781464143878
Author: Paul Krugman
Publisher: Worth Publishers
Question
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Chapter 9, Problem 11P
To determine

To explain:

The whether the decision is rational or irrational based on the given situations

Concept Introduction:

Rationality: The concept rationality means that the people don’t make decisions that make them worse off.

Irrationality: The irrationality is just opposite of the rationality that is people make decisions that make them worse off.

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