Describe the criterion rational consumers use in deciding what product to purchase next to maximize their utility.
Describe the criterion rational consumers use in deciding what product to purchase next to maximize their utility. What two pieces of information must a consumer know to be able to accurately act on this criterion? Using similar critical thinking as that presented in RWM 3.1 The 800-Pound Ronald McDonald in the Room, give an example in which advertisements can (1) Help consumers maximize their utility and (2) Hurt a consumer’s ability to maximize utility. Be sure to explain your answers in detail. Why might advertising aimed at children be especially harmful?
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