This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: The MRS of the indifference curves in the above figure A) equals 1/2. B) equals 2. C) changes ... (Read 84 times)

wenmo

  • Hero Member
  • *****
  • Posts: 540
on: Jun 29, 2018
The MRS of the indifference curves in the above figure
 
  A) equals 1/2.
  B) equals 2.
  C) changes when moving along any one of the curves.
  D) is constant along a particular indifference curve, but changes from one indifference curve to the next.

Question 2

Suppose that Richard has just told you that he would not pay more than 100 dollars for one of his favorite baseball cards. You offer to give him 110 dollars for his card and he refuses. What consumer choice theory or effect explains this result?
 
  A) the endowment effect
  B) bounded rationality
  C) bounded self-interest
  D) bounded will power


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

kaillie

  • Sr. Member
  • ****
  • Posts: 326
Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

A


wenmo

  • Member
  • Posts: 540
Reply 2 on: Jun 29, 2018
:D TYSM

ebonylittles

  • Member
  • Posts: 318
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

According to the Migraine Research Foundation, migraines are the third most prevalent illness in the world. Women are most affected (18%), followed by children of both sexes (10%), and men (6%).

Did you know?

Colchicine is a highly poisonous alkaloid originally extracted from a type of saffron plant that is used mainly to treat gout.

Did you know?

Although the Roman numeral for the number 4 has always been taught to have been "IV," according to historians, the ancient Romans probably used "IIII" most of the time. This is partially backed up by the fact that early grandfather clocks displayed IIII for the number 4 instead of IV. Early clockmakers apparently thought that the IIII balanced out the VIII (used for the number 8) on the clock face and that it just looked better.

Did you know?

People with alcoholism are at a much greater risk of malnutrition than are other people and usually exhibit low levels of most vitamins (especially folic acid). This is because alcohol often takes the place of 50% of their daily intake of calories, with little nutritional value contained in it.

Did you know?

In 1886, William Bates reported on the discovery of a substance produced by the adrenal gland that turned out to be epinephrine (adrenaline). In 1904, this drug was first artificially synthesized by Friedrich Stolz.

Larynx, trachea, bronchi, and lungs with an expanded view showing the structures of an alveolus and Larynx, trachea, bronchi, and lungs with an expanded view showing the structures of an alveolus and
Titration curves for (a) glutamate and (b) histidine Titration curves for (a) glutamate and (b) histidine
Supernova Light Curves Supernova Light Curves
Figure 7.1 shows the rapid decline in the trust of Americans in government since the 1960s. This de Figure 7.1 shows the rapid decline in the trust of Americans in government since the 1960s. This de
Mobilize each metatarsal–phalangeal joint with figure-8s. Hold the tarsal just below the ... Mobilize each metatarsal–phalangeal joint with figure-8s. Hold the tarsal just below the ...
Species-area curves Species-area curves
Video: What is Reverse Osmosis?

For a complete list of videos, visit our video library