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Jacinda, Emmanuel, Angela, Hillary, and Barack each want to buy a set of outfits in the popular mobile game, Among Us. The table below indicates
Jacinda, Emmanuel, Angela, Hillary, and Barack each want to buy a set of outfits in the popular mobile game, Among Us. The table below indicates their willingness to pay for this set of outfits. Assume they will each only purchase a maximum of one set. Willingness to Pay Jacinda $4.10 Emmanuel $3.15 Angela $3.05 Hillary $3.30 Barack $2.85 What is their consumer surplus if the price of a set of outfits is $3.15?Which of the following are true about utility functions? Question 42 options: A) They are a mathematical object that can represent preferences. B) Economists use utility functions to transfer goods from people who have less marginal utility to those who have greater marginal utility from the good. C) In economics courses we learn to use our utility functions to help us make rational decisions. D) Only rational people have utility functions
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