Ecological fallacy occurs when a researcher interprets the results of group-level data to the individual level. A. True B. False C. None of the above
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10. Ecological fallacy occurs when a researcher interprets the results of group-level data to the individual level.
A. True
B. False
C. None of the above
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- Suppose the price of reusable straws is $25 and the price of Apple Air Pods is $100. What is the opportunity cost of Apple Air Pods in terms of reusable straws? Group of answer choices 5 reusable straws 4 reusable straws 1/4 of a reusable straw $25 25 reusable straws125 Outcome A B C D E Utility of Individual #1 2 13 15 13 3 14 4 14 5 Utility of Individual #2 6 13 12 18 Utility of Individual #3 | 24 11 3 5 17 12 18 5 You like all these individuals, although not necessarily equally. F G H 4 12 15 (a) Which outcomes are Pareto Efficient? Which are not? Explain your reasoning. (b) As an economist, which of the Pareto Efficient outcomes is the most desirable? Explain. (c) As an economist, would you choose one of the outcomes that is not Pareto Efficient? Explain. (d) Suppose the “world” is initially at an allocation that is not Pareto Efficient. Will all of the Pareto Efficient outcomes identified in part (a) be a Pareto Improvement? Explain.Lx Give Up? V Hint Check Answer Question 6 of 14 Attempt 2 6. Trigger strategies in repeated games a. Under a tit-for-tat strategy, a player retaliates permanently against any decision by an opponent to defect - b. Under a grim trigger strategy, a player allows an opponent to defect one or more times before retaliating c. Under a trembling hand trigger strategy, a player repeats each prior move of a competitor d. In the box below, rank the three trigger strategies in order of harshest to most lenient. Question Source: Chiang 4e- Economics Principles For A Changing World Publisher 43°F a 近
- A hardware retailer found that, during the months of May, June and July, sales of patio furniture increase when the number of sunny days increases. This is an example of a) A Cause-and-Effect relationship b) A Reverse Cause-and-Effect relationship c) A Presumed Cause-and-Effect relationship d) An Accidental Cause-and-Effect relationship A В NONEIf you spent your entire income, you could afford either 3 units of x and 9 units of y or 9 units of x and 3 units of y. If you spent your entire income on x, how many units of x could you buy? (show working out) A 18 B 16 C 21 D There is not enough information to determine the number of x. E None of the above.7) There is some popular unrest in a dictatorship. The population might be in a revolutionary mood, in which case they would be willing to violently overthrow the dictator, or just grumbling, in which case they would not. There is a 30% chance the population is in a revolutionary mood. The population knows their own type, but the dictator does not. After nature chooses whether the population is in a revolutionary mood, the population can decide to protest or not. The dictator observes the populations behavior, and then can peacefully resign or hold onto power. The dictator can make this choice whether or not the population protests. If the dictator holds onto power, the population can violently overthrow the dictator or not. The dictator gets 50 utility for retaining power, O utility if they peacefully resign, and -100 utility if they are overthrown. The revolutionary population gets 50 utility for the dictator resigning, 30 utility for overthrowing the dictator, and -50 utility for…
- 4. Derive the Slutsky Equation and demonstrate its Slutsky symmetry. Interpret the symmetry.5. The City Government has been using the police force to evict hawkers from the CentralBusiness District (CBD). Construct a discrete choice economic model that the Governmentcan use to incentivize hawkers to shift voluntarily to a location outside of the CBD.741 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…Please Only answer no need explanation and both 2 please please.
- What type of relationship would you expect between thefollowing?a. Sales of hot dogs and sales of hot dog bunsb. The price of winter coats and sales of winter coatsc. The price of personal computers and the production ofpersonal computersd. Sales of toothbrushes and sales of cat foode. The number of children in a family and the number oftoys in a family2. Represent the following data in bar graph form.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 productionThe Grossman model envisions consumers deciding between investments in health H and investments in home goods Z. Figure below depicts a typical consumer’s production possibility frontier for health and home goods.a. Succinctly describe why the graph is shaped the way it is between points A and B.b. Succinctly describe why the graph is shaped the way it is between points B and C.c. Would any consumer with typical preferences ever pick a point on the graph between A and B? Explain succinctly why or why not.
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