The decision-making process followed by consumers to maximize utility assumes thatmultiple choicea. consumers do not know how much marginal utility they obtain from consuming additional units of various products. b. consumers have unlimited incomes. c. consumers behave rationally, attempting to maximize their satisfaction. d. consumers are unable to rank their preferences.

You are a professor of economics at a university.? you've been offered the position of serving as department? head, which comes with an annual salary that is ? $5 comma 500 higher than your current salary.? however, the position will require you to work 200 additional hours per year. suppose the next best use of your time is spending it with your? family, which has value of ? $10 per hour.