Plz do the both questions 1. True or False. According to behavioral economists, self-control problems generally result from poor information. 2. True or False. A key difference between neoclassical economics and behavioral economics

Plz do the both questions 1. True or False. According to behavioral economists, self-control problems generally result from poor information. 2. True or False. A key difference between neoclassical economics and behavioral economics

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter4: Utility Maximization And Choice

Section: Chapter Questions

Problem 4.1P

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Plz do the both questions

1. True or False. According to behavioral economists, self-control problems generally result from poor information.

2. True or False. A key difference between neoclassical economics and behavioral economics is that in behavioral economics, context affects preferences.

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3. Individual Problems 12-3 Some high-end retailers place their most expensive products right in the entryway of the store, where consumers will see them first, and place their more popular, better-selling items further back. Which of the following would most likely be used by a behavioral economist as a justification for this strategy? A behavioral economist would disagree with the store's strategy. The store is using lower-priced options to drive down price expectations and make later, higher-priced options appear more expensive in comparison. The store is using higher-priced options to drive up price expectations and make later, lower-priced options appear less expensive in comparison. The store is using lower-priced options to drive up price expectations and make later, higher-priced options appear less expensive in comparison.
URGENT help needed. Behavioral economics
4.
Plz explain in detail both questions
9. Behavioral economics Indicate whether each of the following examples of behavior is consistent with the way the traditional economic framework suggests people should act, or if it is reserved for behavioral economists to examine. Example Some people would be willing to pay money to lower the incomes of others. Some people treat $60 they earn differently from $60 they win in a random drawing. Some people sacrifice disposable income to help their children pay for college. Some people would turn down a new, higher-paying job if it meant spending less time with their family. Consistent with the Predictions of Traditional Economic Models Reserved for Behavioral Economics
Please provide steps by step answer with proper explanation with final answer
QUESTION 6 Which of the following was insight regarding optimal pricing that we gleaned from behavioral economics? O Make costs lump sum (integrate the costs into one cost) and separate allof the benefits of a purchase (separate the gains from an exchange). O Consumers always act rationally in their consumption decisions. O Expectations about products' prices don't matter for consumer behavior - all that matter's is the price they actually face, O Default choices for consumers don't matter for their behavior. QUESTION 7 Which of the following are the conditions for a firm to be able to profitably engage in bundlhpg?. O There is variation in consumers' willingness and abilities to pay for the goods, and consumers' valuations of the goods are positively correlated. O Consumers must like the bundled goods relatively equally. Consumers' preferences across the goods are relatively consistent with each other. O There is variation in consumers' willingness and abilities to pay for the goods,…
9. Behavioral economics Indicate whether each of the following examples of behavior is consistent with the way the traditional economic framework suggests people should act, or whether it is reserved for behavioral economists to examine. Behavior There are people who pursue a degree in dance rather than informatics, even though high-tech careers are usually much higher-paying. Some people care more about how much money they make relative to others in their social network rather than their absolute income level. Some people treat $60 they earn differently from $60 they win playing powerball. People at all-you-can-eat restaurants eventually leave, even though they could continue eating for free. Consistent with Traditional Economic Model predictions Exclusive to Behavioral Economic theory
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Q2
Pareto eliminated psychology from economics:a. by defining utility as ordinal, not cardinal utilityb. searching for secondary qualities of thingsc. defined rationality as consumer behavior only after they have bought something several timesd. by accepting revealed preference.
Pls help with below homework. Select the correct option and explain it in 10-15 sentences.