Explain what is implied by the assumption that decision-makers are Essa

Explain what is implied by the assumption that decision-makers arerational?How is the assumption of tenableness used in the economic analysis ofindividual demeanor?In many academic disciplines much is spoken about rationality andrational choices. Economists mostly refer to rational choicesand that individuals in economic theory are rational. By rational wemean people choose options which they perceive to be the best, giventhe circumstances they are in. In terms of making rational choicessome of the conceivable options for example of going to work would be Actually going to work. Staying at home exit out shopping Buying a house Fly to the moon etc.But with these choices we face constraints and it is these constraintsthat define our feasible options so flying to the moon would not bea feasible option. Therefore the options we can choose from is calledthe feasible set and it is our preferences i.e. our likes anddislikes and their sexual intercourse intensity, which determines whic h feasibleoption we choose. When we make a choice it generates utility whichis a measure of the ruttish experience associated with the outcomeof a choice so basically the satisfaction from the consumption of agood. We talk about total utility meaning the total satisfaction aperson gains from all units of a commodity consumed within a timeperiod. We also use the term marginal utility which is additionalsatisfaction gained from consuming one limited unit within a timeperiod. There is a general model of rational choice where economistsassume that agents such as decision makers for plump firstly identify afeasible set of options and then assess the expected utility of eachoption ... ...tility and therefore theamount of meals must minify to keep the utility constant. Due tothe fact that the consumer will prefer more to less the curve mustslope downwards. The slope of each curve does get steadily flatter aswe move to the right due to the assumption of a diminishing marginalrate of su bstitution. For example in this case at point A theconsumer will sacrifice a lot of films for few meals because he/shehas so many films. Whereas point B he/she has less films relative tomeals so willing to sacrifice a smaller amount of films for additionalmeals.However this kind of economic analysis is based on rational behaviourof consumers. It does not take into account people with maybeaddictions such as smokers or people under the influence of alcohol ordrugs. In economics we assume rational thinking and behaviour willalways take place.