3. Income and substitution effects Dina has a so-called fruit budget, which she uses to buy only apricots and nectarines. Assume the price of apricots increases. Which of the following is an example of the income effect? The increase in the price of apricots makes apricots relatively more expensive than nectarines, so Dina will buy fewer apricots and more nectarines. Because the price of apricots increases, Dina will choose to buy only nectarines and no apricots. The increase in the price of apricots decreases Dina's real income, which forces Dina to buy fewer fruits in general.

Questions 8-9

Yes, I do believe people who disagree in regard to normative ethical theory can still reach an agreement on practical ethical questions within the business world. I have had many bosses and many co-workers whom I have not necessarily agreed with when it comes to morals and values outside of work, however, in the workplace most people can agree on practical ethical questions for example sexual harassment, stealing, cheating, client/customer privacy, unethical leadership, etc. I have found that in the workplace you can become friends with people who hold completely different normative ethics than you but still agree on common goals for the business, in fact I think it is a great thing that people who may disagree and have different opinions on ethics come together in the workplace because it makes for different ways of thinking and diversity within the business.  please help reply to disussion post

"What is the basic economic problem of scarcity?"