Description
ECS2601 Assignment 1 | Due 2nd April 2025
Question 1: (15 marks)
1.1 In microeconomics we need to make certain assumptions about the preferences of consumers. Use real life examples to explain any two of these assumptions.
Yes, according to Learning Unit 3: Consumer behaviour
In microeconomics, we make certain assumptions about consumer preferences to understand how people make choices. Two of these assumptions are completeness and more is better than less.
1. Completeness
This assumption means that consumers …………
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