Question 2 A rational person makes a choice if Group of answer choices the choice makes money the benefits outweigh the costs the costs outweigh the benefits the choice is ethical
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- Question 16: Scarcity or limited resources are ultimately what force us to make decisions. Opportunity cost is the cumulative value of all alternatives to the final choice. A True B FalseQuestion 7: Reading Choices based in basic survival and life structure are considered to be A Wants B Needs C Opportunity D UtilitySolve all questions.......you will not solve all questions then I will give you down upvote....... Arturo loves chocolate mousse but he is concerned about eating too much sugar. He would like to indulge himself eating as many mousses as possible as long as he keeps daily sugar consumption under 100 grams. Consider the following two choice rules: • Rule 1: After eating N mousses, if he is offered an additional mousse, he would eat it if the mousse contains less than 25 grams of sugar. If instead he is offered a fixed number of daily mousses in advance, he would accept them only if the total sugar content does not exceed 100 grams, otherwise, he would choose not to eat any mousse. • Rule 2: Choose in advance a fixed number of mousses to eat each day that does not exceed 100 grams of sugar content in total. (a) If each mousse contains 21 grams of sugar, Which rules (if any) satisfy IIA? Justify your answer. (b) Can you find a utility function that is maximized by Rule 1? How about…
- USE FIGURE #1: New technology for producing plywood is developing. Which of the figures above best illustrates this change? Group of answer choices Figure A Figure A and Figure D Figure B Figure D Figure CUSE FIGURE #1: A construction boom occurs and many of the new buildings need plywood for their framing. Which of the figures above best illustrates this change? Group of answer choices Figure A or Figure C Figure A Figure C Figure D Figure BQuestion 59 When a good is rival, Group of answer choices one person's use of the good diminishes another person's ability to use it. people can be prevented from using the good. more than one person can use the good at the same time with no effect on enjoyment. everyone will be excluded from using the good.
- Q.4 Microeconomics How incentives affect people’s behavior. The question: Does the seat belt law make people safer? You might talk about the role of incentives. The word "safer" meaning more safe is correct. In the most general terms, an incentive is anything that motivates a person to do something. When we're talking about economics, the definition becomes a bit narrower: Economic incentives are financial motivations for people to take certain actions. However, the discussion is focused on seat belt law and what are incentives surrounding it.Multiple Choice Questions: 5. Melody decides to spend three hours working overtime rather than going to the park with her friends. She earns $20 per hour for overtime work. Her opportunity cost of working is A. the $60 she earns working. B. the $60 minus the enjoyment she would have received from going to the park. C. the enjoyment she would have received had she gone to the park. D. nothing, since she would have received less than $60 worth of enjoyment from going to the park.Question 2.2. Henry wants to buy a book. The economic perspective suggests that Henry will buy the book if the book will give him utility. his income is high. the marginal cost of the book is greater than its marginal benefit. the marginal benefit of the book is greater than its marginal cost. Question 3.3. Which situation would most likely cause a nation's production possibilities curve to shift inward? The construction of more capital goods An increase in discrimination based on race An increase in the number of skilled immigrant workers The destruction from bombing and warfare in a losing military conflict
- Question 2.2. Henry wants to buy a book. The economic perspective suggests that Henry will buy the book if the book will give him utility. his income is high. the marginal cost of the book is greater than its marginal benefit. the marginal benefit of the book is greater than its marginal cost.Suppose Bella has $1000 to spend on watches and/or bracelets. Watches cost $30 each and bracelets cost $10 each. What is the opportunity cost of buying 1 bracelet? Group of answer choices A)30 watches B)1/3 of a watch C)1 watch D)3 watchesAna, Emma, and Greta are deciding what to do on a weekend getaway. They each suggest a first choice and then vote on the options. Their first choice, second choice, and third choice preferences are as shown in the following table. Circular preferences 1st Choice 2nd Choice 3rd Choice Ana Beach Mountain Biking Canoeing Emma Mountain Biking Canoeing Beach Greta Canoeing Beach Mountain Biking Based on the table explain why they will have a hard time reaching a decision. Do they prefer mountain biking to canoeing? What about canoeing compared to the beach? What about the beach compared to the original choice of mountain biking?
