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Describe FIVE [5] reason why favoritism happens.
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- Subject :- EconomyJanelle loves sashimi. Her first piece of sashimi usually gives her a marginal benefit of $5. Each additional piece yields a marginal benefit that declines by $0.25 per piece. If her favorite sushi bar charges $2.75 per piece of sashimi, how many pieces should she eat? [1]b. Which of these best represent a planned approach and which best represent a market approach? Planned Approach Send all the donations to the shelter that has the least. Answer Bank Ask shelters to submit their requests, and decide what to send where based on their answers. Offer each shelter a virtual "budget" and have them bid on different items. Market Approach Divide the donations evenly among the three shelters.
- Q3. The table below depicts the maximum buying prices and minimum selling prices that potential buyers and sellers have for a horse. Assume that a horse is considered to be a good of the first order. Potential Buyer $300 $280 $260 $240 $220 $210 $200 $180 $170 $150 Al A2 A3 A4 AS A6 A7 A8 A9 A10 Potential Seller $100 $110 $150 $170 $200 $215 $250 $260 Bl B2 B3 B4 B5 B6 B7 B8 (a). Based on the original valuations of potential buyers and sellers in the table above, identify the market clearing price that will bring this market to a state of rest. Provide a description of the important properties of this price. (b). Distinguish between the original valuations with which the market participants enter the market and the momentary valuations that prevail when they engage in exchange. Focusing on the potential sellers, explain why each of them would try to align their momentary valuations with the market clearing price? (c). Assume now that trade takes place at a price that is not the market…Question 18 Use the following table for the question below. Dynaco Decision Synergy Decision Large Budget Small Budget Large Synergy.gains.20.million Synergy gains zero Budget Dynaco gains 30 million Dynaco gains 70 million Small Synergy.gains.30.million Budget Dynaco gains zero Synergy.gains.40.million Dynaco gains 50 million If the two firms were allowed to work together (collude) and create a binding agreement, what is the optimal (best) outcome for both of them? O Synergy gains $40 million and Dynaco gains $50 million O Synergy gains zero and Dynaco gains $70 million O Synergy gains $20 million and Dynaco gains $30 million O Synergy gains $30 million and Dynaco gains zero8. The interaction of individual choices Because eels are highly endangered as a species, many governments enact laws prohibiting fishing along their migration route. Initially, eel fishers complain about this restriction on the locations they can fish, but after a while they notice that the number eels swimming outside regulated areas is much higher than it was before. With the laws in place, eel fishers end up catching a greater quantity of eels than they did prior to the enactment of the laws. Which of the following principles of economic interaction best describes this scenario? O Markets allocate goods effectively. O When markets do not achieve efficiency, government intervention can improve overall welfare. O There is a tradeoff between equality and efficiency. O Markets usually lead to efficiency.
- What do you think of the ethics of using unconscious nudges to alter people’s behavior?What can be used to determine if a choice is worth the cost? cost-benefit analysis choice-benefit analysis risk-benefit analysis trade-benefit analysis2. Determining opportunity cost Juanita is deciding whether to buy a suit that she wants, as well as where to buy it. Three stores carry the same suit, but it is more convenient for Juanita to get to some stores than others. For example, she can go to her local store, located 15 Discounted minutes away from where she works, and pay a marked-up Marked-up price price price of $102 for the suit: Juanita's office Original price Travel Time Each Way Price of a Suit (Minutes) (Dollars per suit) Store Local Department Store 15 102 Across Town 30 88 Neighboring City 60 63 Juanita makes $18 an hour at work. She has to take time off work to purchase her suit, so each hour away from work costs her $18 in lost income. Assume that returning to work takes Juanita the same amount of time as getting to a store and that it takes her 30 minutes to shop. As you answer the following questions, ignore the cost of gasoline and depreciation of her car when traveling. Complete the following table by computing…
- 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. Their first choice, second choice, and third choice preferences are as shown: Anastasia Emma Greta First Choice Вeach Mountain biking Canoeing Second Choice Mountain biking Canoeing Beach Third Choice Canoeing Beach Mountain biking If the choice is between mountain biking and canoeing, how will the group vote? Select the correct answer below: two votes for mountain biking; one vote for canoeing two votes for canoeing; one vote for mountain biking three votes for mountain biking three votes for canoeing741 Ny 7:0 Mond Content X + ultra/courses/_99030_1/cl/outline manipic cempo me manipic accompis. INIU Force Completion. This test can be saved and resumed later. BILLETTE Your answers are saved automatically. * Question Completion Status: QUESTION 1 The goal of the consumer is to maximize the total utility or satisfaction derived from their purchase choices, given the unique budget constraint. To calculate total utility of a given combination of T-shirts and movies, one would use the following approach: O a. For a given combination of T-shirts and movies, survey a group of individuals to determine an average for utils to be assigned to the number of T-shirts and movies. O b. For a given combination of T-shirts and movies, use Google to identify the number of utils associated with the number of T-shirts and movies and thenlum them. O c. For a given combination of T-shirts and movies, assign a number of utils to that combination. O d. Use utils as a measure of utility, assigning a…1. The rules regarding economic decision maker behavior are: Group of answer choices A: Consumers behave rationally and maximize utility, but producers do not behave rationally B: Producers behave rationally and maximize profits, but consumers do not behave rationally C: consumers are ratiional and maximize utility, and producers are rational and maximize profits D: Consumers maximize total consumption, and producers maximize production
