Author Question: An elimination heuristic makes the choice on the basis of all the categories in which the events ... (Read 77 times)

natalie2426

  • Hero Member
  • *****
  • Posts: 524
An elimination heuristic makes the choice on the basis of all the categories in which the events differ.
  Indicate whether the statement is true or false

Question 2

When the price of a good changes, the substitution effect occurs because:
 a. the consumers' real income measured in terms of that good changes.
  b. the relative price of that good changes compared to other goods in the consumption bundle.
  c. the total utility of that good decreases.
  d. the marginal utility of that good decreases.
  e. consumers have an incentive to substitute irrational behavior for rational behavior.



wfdfwc23

  • Sr. Member
  • ****
  • Posts: 338
Answer to Question 1

F

Answer to Question 2

b



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question


 

Did you know?

Calcitonin is a naturally occurring hormone. In women who are at least 5 years beyond menopause, it slows bone loss and increases spinal bone density.

Did you know?

When blood is exposed to air, it clots. Heparin allows the blood to come in direct contact with air without clotting.

Did you know?

Since 1988, the CDC has reported a 99% reduction in bacterial meningitis caused by Haemophilus influenzae, due to the introduction of the vaccine against it.

Did you know?

People about to have surgery must tell their health care providers about all supplements they take.

Did you know?

The lipid bilayer is made of phospholipids. They are arranged in a double layer because one of their ends is attracted to water while the other is repelled by water.

For a complete list of videos, visit our video library