Explain the four major steps of the decision-making process, Microeconomics

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Explain the four major steps of the decision-making process

Problem

1. List and explain the four major steps of the decision-making process according to the scientific approach.

2. What are the major methodological fallacies and why should we be concerned about them? Try to provide an example of each fallacy, especially something that you may have already contemplated in your daily life.

The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.

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Microeconomics: Explain the four major steps of the decision-making process

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