Observations of violations of consumer optimum predicted by consumer choice theory could provide support forI.utility analysisII.bounded rationalityIII.behavioral economics
A. I only.
B. III only.
C. both I and II.
D. both II and III.
Answer: D
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When a home builder decides to computerize all of its production schedule, it directly answers the ________ question
A) for whom B) what C) where D) how E) why
Comment on the following statement: "In economics, investment means a wide variety of things including purchases of stocks, bonds, and other financial assets."
What will be an ideal response?
Refer to the accompanying table. If the price of Good A is $1 and the price of Good B is $3, then the rational spending rule is satisfied when the consumer purchases ________ units of Good A and ________ units of Good B. UnitsMarginal Utilityof Good AMarginal Utilityof Good B1304022733315244814
A. 4; 3 B. 4; 4 C. 3; 3 D. 3; 4
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A. inelastic. B. elastic. C. cross-elastic. D. unitary elastic.