The features of voluntary transactions.

Question

What affects the desirability of a product? Products become more desirable when A. professional athletes use a product because consumers who use the same product may feel closer to famous people. B. celebrities use a product because consumers who use the same product may feel more fashionable. C. movie stars use a product because consumers perceive them to be particularly knowledgeable about it. D. both a and b. E. all of the above.

Answer 1

Question

Chapter 2, Problem 10MC

To determine

The features of voluntary transactions.

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What affects the desirability of a product? Products become more desirable when A. professional athletes use a product because consumers who use the same product may feel closer to famous people. B. celebrities use a product because consumers who use the same product may feel more fashionable. C. movie stars use a product because consumers perceive them to be particularly knowledgeable about it. D. both a and b. E. all of the above.

Select one or more: a. A Pareto efficient outcome is where you cannot make anyone better off without someone else ending up worse off. b. All are happy with their share of income in a Pareto eﬃcient outcome. c. There is only ever one Pareto eﬃcient outcome. d. If two people have £100 to split, any split in which all the money is used up is Pareto-Efficient, even if one person gets none.

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