✪ ③ Feedback According to the table, what is the consumer equilibrium for a $6 budget if the price of passion fruits is $1 and the price of apricots is also $1? Number of Marginal Total utility Number Marginal utility of utility of utility of passion passion of passion apricots apricots fruits fruits apricots fruits 0123456 ༠ ཋ ཡི 8 8 8 མི - 10 9 7 4 0 -1 0123456 0 - 8 8 15 21 25 27 27 76420 3 passion fruits 2 apricots See Hint 1st attempt Feedback Bounded rationality results from Choose one or more: A. short decision-making times B. limited information C. long decision-making times D. limited brain-processing capability See Hint

Would a research study on the effects of soft drink consumption on childrens cognitive development he a positive or normative statement?

Jeremy is deeply in love with Jasmine. Jasmine lives where cell phone coverage is poor, so he can either call her on the land-line phone for five cents per minute or he can drive to see her, at a round—trip cost of 2 in gasoline money. He has a total of 10 per week to spend on staying in touch. To make his preferred choice, Jeremy uses a handy utilimometer that measures his total utility from personal visits and from phone minutes. Using the values in Table 6.6, figure out the points 011 Jeremys consumption choice budget constraint (it may be helpful to do a sketch) and identify his utility-maximizing point.

Anastasia, Emma, and Greta are deciding what to do on a weekend getaway. They each suggest a first, second, and third choice and then vote on the options. Table 18.2 shows their first, second, and third choice preferences. Explain why they will have a hard time teaching a decision. Does the group prefer mountain biking to canoeing? What about canoeing compared to the beach? What about the beach compared to the original choice of mountain biking?