Two rationality assumptions economists make about tastes are first, that some individuals are not able to compare any two bundles of goods to one another, and second, that there is an internal consistency to tastes that makes it possible to choose a "best" bundle.
Answer the following statement true (T) or false (F)
False
Rationale: It is true that one fundamental assumption economists make about tastes is that there is an internal consistency to tastes that makes it possible for one to choose a "best" bundle (transitivity), but it is not correct that the other fundamental assumption is that some people cannot compare bundles. On the contrary, the assumption is that everyone CAN compare two bundles (completeness).
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