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- Please answer ASAP. show your reasoning to help me understand2. Identify and describe two functional objects that you use in your day to day life that are also considered to be artistic. Explain why these objects are works of art. Type your response here: ASAN % 8. R. T.Describe the Rational Decision making Process?
- 4 Which of the following are ways to improve study habits? Select one: a. Familiarization b. Active reading c. Take notes d. All of the aboveKamryn is deciding between three potential activities on Saturday evening: 1) Staying at home and watching her favorite television show, an activity that she values at $18 and that entails no out-of- pocket costs. 2) Going to the movies with her sister to see the latest blockbuster action film, an activity she values at $30 and that entails $15 in out-of-pocket costs. 3) Going out to dinner with her best friend, an activity she values at $40 and that entails $23 in out-of-pocket costs. a. Which activity should Kamryn choose? b. What is Kamryn's opportunity cost of going to the movies? Instructions: If you are entering a negative number, be sure to include a negative sign (-). $ Staying at home and watching her favorite show O Going out to dinner with her best friend Going to the movies with her sister $ c. Relative to her next best alternative, what is Kamryn's economic surplus from going to the movies? Instructions: If you are entering a negative number, be sure to include a negative…The vast array of products that consumers buy can be classified on the basis of shopping habits and are broken down into four main areas. List these four main classifications of consumer goods and explain what elements are included within.
- What we sacrifice, or give in return, when we make a decision or make a choice is:Response option group a) A cost that can be avoided if we make well-thought-out decisions. b) The opportunity cost of said decision. c) The cost incurred for not making a good decision. d) The additional cost of purchasing an additional unit of product.In 2002, a French law went into effect that cut the standard work week from 39 to 35 hours (workers got paid for 39 hours even though working 35), while at the same time prohibiting overtime hours from being worked. (Overtime in France is paid at 25% above the normal wage rate.) (a) Draw the old budget constraint, showing the overtime premium after 39 hours of work. (b) Draw the new budget constraint. (c) Analyze which workers in France are better off under the 2002 law. Are any worse off? Explain. I need help with part(c) Please do not copy answers from other websites.Question 9: _____ refers to the satisfaction gained through consumption while _____ refers to the amount of worth a consumer attributes to a good or service. A Scale, wants B Influence, costs C Utility, Value
- From any of the 5 cognitive biases, including ‘framing effect’. Detail definitions for each, explain how it can influence one's decision making using examples of relevant situations. Explain how one potentially benefit from this bias; how it makes one prone to mistakes; and what one can do to avoid it.(a) Distinguish between microeconomics and macroeconomicsZoey has $3 budget in total and can spend her money on cookies (x) and bananas (y).She has preferences over cookies and bananas represented by u(x,y) = x^2y. The first 5 cookies are free for Zoey, but each additional cookie costs $1. Bananas are always $1 each. (a) Draw her feasible budget set, identifying all the intercepts, kinks, etc... (b) What is her optimal bundle? (c) What is her optimal bundle if she only had a $2 budget? (d) Suppose she has $2 budget, but now not only the first 5 cookies are free, but also the first 3 bananas (additional cookies or bananas are $1 each as before). Draw her budget set and calculate her optimal bundle