Question

Explain the economic principles of neoclassical economists

Answer 1

Explanation:

Neoclassical Economics focuses on how the perception of efficacy or usefulness of products affects market forces: supply and demand. Assumptions of the theory include rational economic decision-making and utility and satisfaction being the only customer considerations leading to purchase decisions.

Answer 2

Answer -

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• Neoclassical Economics focuses on how the perception of efficacy or usefulness of products affects market forces: supply and demand. Assumptions of the theory include rational economic decision-making and utility and satisfaction being the only customer considerations leading to purchase decisions.

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