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- 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…Price elasticity measures the responsiveness of the quantity demanded or supplied to a good to a change in its price. Note: Select an option True False er than the Save Answer button will NOT save any changes to your answers!Pls help with below homework. Select the correct option and explain it in 10-15 sentences.
- Multiple Choice O O Fto point D. B to point A. C to point B. H to point /.Define market value. How do you differentiate it fromintrinsic value?Whether a certain criterion is determinant or not is independent of the situation in which a product is consumed. True False In the context of disposing of consumer refuse, recycling cuts down on garbage while providing raw materials for other new products. True False Which of the following is a fundamental emotion evoked by positive, anticipatory appraisals that signal uncertainty about a positive outcome? a. Hope b. Confusion c. Surprise d. Pride Which of the following best describes chronic, repetitive purchasing behaviors that are in response to negative events or feelings? a. Addictive consumption b. Impulsive purchasing c. Window shopping d. Compulsive buying Retaliatory revenge is when a consumer yells insults and makes a public scene in an effort to harm the business. True False
- Please highlight which of the choices is the right one, I believe it is d but would like some conformation. If you can please also explian why the other choices are wrongheABCCompanyLtd.HasapproximatedthemarginalrevenuefunctionforoneofitsproductsbyMR=20x – 2x 2 .ThemarginalcostfunctionisapproximatedbyMC=81 – 16x+x 2 .Determinetheprofitmaximizingoutput,thetotalprofit,thetotalrevenuefunction,anddemandfunctionArticulate how economic factors influence acustomer’s ability and willingness to buy products
- Suppose Jay has been experiencing back pain and that there are two options for back pain: Treatment Regimen Total Cost Pain Reduction Do nothing $0 0 units Cortisone injections $600 30 units Calculate the ICER between cortisone injections and doing nothing. Jay says he is willing to pay $10 for a per unit of pain reduction. Should he choose cortisone injections? Another treatment is discovered. It costs $700 and reduces pain by 25 units. Should he choose the new treatment?Give typed explanation of the each option givenHow is the Rational decision making a complex process?