empts per question. dit for incorrect days late for no Your are considering whether to go out to dinner at a restaurant with your friend. The meal is expected to cost $40, you typically leave a 20% tip, and an Uber will cost you $5 to get there. (Your friend will bring you home.) You value the restaurant meal at $20. You enjoy your friend's company and are willing to pay just to spend an evening with her. If you did not go out to the $30 restaurant, you would eat at home, using groceries that cost $8.

Janet needs to buy textbook that costs $271. She has a coupon for $5 off at the bookstore, but she can save 2 hours if she orders the items on Amazon instead. O It does not matter which choice she makes since $5 is not a big savings for an expensive textbook. O It is better to use the coupon because then she will have extra money to spend on other items. O It is better to order online since saving $5 is not worth two hours. It depends on the opportunity cost of her time and she should only use the coupon if two hours is worth less than $5 to her.

What are the types of utility

How does a consumer determine how much of a good he or she will buy?

Do it quickly

Do you think that you could consume less by refusingto buy some of the things you regularly buy? If so,what are three of those things? Do you think that thisis something you ought to do? Explain.

Juanita is deciding whether to buy a skirt that she wants, as well as where to buy it. Three stores carry the same skirt, but it is more convenient for Juanita to get Disceunted prie to some stores than others. For Marked p price example, she can go to her local store, located 15 minutes away from where she works, and pay a marked-up price of $102 for the skirt: anita's office Original pre Travel Time Each Way Price of a Skirt (Dollars per skirt) Store Local Department Store (Minutes) 15 102 Across Town 30 85 Neighboring City 60 76 Juanita makes $42 an hour at work. She has to take time off work to purchase her skirt, so each hour away from work costs her $42 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 the opportunity cost of…

What factors commonly influence a person’s daily buying choices? Select one of these and explain how one might counteract this influence to improve purchasing behavior.

What are the factors which determine the choice that a person makes between buying a Honda Accord or a Toyota Corolla?

Describe several ways in which consumers are less than free in making choices about which products to purchase.