Multiple Choice
Cameron wears stylish and professional shoes to work every day. He would be more comfortable in sneakers, but he chooses to wear the uncomfortable dress shoes. How might an economist explain this choice?
A) Individuals sometimes ignore the utility of a choice.
B) Individuals' utility can be influenced by other people's perceptions of them.
C) Utility is not an appropriate measure for every model of behavior.
D) Individuals are sometimes irrational.
Correct Answer:
Verified
Correct Answer:
Verified
Q130: When a person's income increases:<br>A)more bundles of
Q131: Individuals will make choices to maximize their:<br>A)constraints.<br>B)utility.<br>C)income.<br>D)values.
Q132: Utility is useful when:<br>A)comparing the relative satisfaction
Q133: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8422/.jpg" alt=" Assume Bryce's budget
Q134: Sam has $200 a month to spend
Q135: The table shown describes the different combinations
Q136: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8422/.jpg" alt=" Assume Dawn's budget
Q137: The concept of utility maximization:<br>A)is solely used
Q138: Thinking about the total utility gained from
Q139: When an individual's income increases, the budget