lizzes - ECON-2302 6001 1 M Suppose Faith and Mickey are p x | + uizzing/user/attempt/quiz_start_frame_auto.d21?ou=1412343&isprv=&qi=30829498cfql=0&dnb=0&fromQB=08 Sharp differences m... is Supply Chain Mana.. ESTER EXAM ECON 2302 6001 Spring 2024 2:10:24 remaining correcting; neoclassical economists believe government policy is most w appropriate for avoiding and correcting errors. Question 13 (2 points) 6 Listen Suppose Achak and Bimisi play the ultimatum game for $10,000. If Achak is the proposer and Bimisi the responder, based on experiments with the ultimatum game, which is the most likely outcome that involves an accepted offer. 12 $10,000 for Achak and $0 for Bimisi $8,000 for Achak and $2,000 for Bimisi 15 $0 for Achak and $10,000 for Bimisi $5,500 for Achak and $4,500 for Bimisi 18 Question 14 (2 points) Listen 21 What do neoclassical economics and behavioral economics believe about people's ability to resist temptation? 24 Both believe that people regularly succumb to temptation and impulse buying. Neoclassical economics believe people generally stick to their carefully calculated decisions; behavioral economics believe people resist temptation poorly and frente T Search PRE hpizzes - ECON-2302 6001 1 M X G Suppose Faith and Mickey are p x |+ izzing/user/attempt/quiz_start_frame_auto.d21?ou=1412343&isprv=&qi=30829498cfql=08dnb=0&fromQB=08 Sharp differences m... US Supply Chain Mana.. ESTER EXAM ECON 2302 6001 Spring 2024 2:10:22 remaining X Question 14 (2 points) () Listen What do neoclassical economics and behavioral economics believe about people's ability to resist temptation? 6 Both believe that people regularly succumb to temptation and impulse buying. Neoclassical economics believe people generally stick to their carefully calculated decisions; behavioral economics believe people resist temptation poorly and frequently buy on impulse. 12 Behavioral economics believe people generally stick to their carefully calculated decisions; neoclassical economics believe people resist temptation poorly and frequently buy on impulse. 15 Both believe that people generally do well at resisting temptation and impulse buying. 18 Question 15 (2 points) 21 Listen In the United States, peanut butter and jelly are viewed as complements. In other countries they are viewed as substitutes. If we investigate a new country, Elbonia, 24 and determine that their cross elasticity of peanut butter and jelly is 0.35, we can conclude that peanut butter and jelly are substitutes in Elbonia Q Search PRE hpking/user/attempt/quiz_start_frame_auto.d21?ou=1412343&ispry=&qi=3082949&cfgl=0&dnb=0& Sharp differences m... Supply Chain Mana.. STER EXAM ECON 2302 6001 Spring 2024 2:10:19 re Question 15 (2 points) Listen In the United States, peanut butter and jelly are viewed as complements. In other countries they are viewed as substitutes. If we investigate a new country, Elbonia, and determine that their cross elasticity of peanut butter and jelly is 0.35, we can conclude that peanut butter and jelly are substitutes in Elbonia. peanut butter and jelly are unrelated goods in Elbonia. both goods are normal goods in Elbonia. peanut butter and jelly are complements in Elbonia. Question 16 (2 points) Listen A 4 percent increase in the price of tea causes an 10 percent increase in the demand for coffee. The cross elasticity of demand for coffee with respect to the price of tea is -2.5 0.4. O -0.4 2.5 Q Search hpzzing/user/attempt/quiz_start_frame_auto.d21?ou=1412343&isprv=&qi=30829498cfql=0&dnb=0&fro Sharp differences m... Supply Chain Mana... STER EXAM ECON 2302 6001 Spring 2024 2:10:17 rem () both goods are normal goods in Elbonia. peanut butter and jelly are complements in Elbonia. Question 16 (2 points) Listen A 4 percent increase in the price of tea causes an 10 percent increase in the demand for coffee. The cross elasticity of demand for coffee with respect to the price of tea is Q-2.5. O 0.4. O-0.4 2.5. Question 17 (2 points) Listen Suppose the income elasticity of demand for jewelry is .50. Other things equal, a 6 percent increase in consumer income will decrease the quantity of jewelry purchased by 3 percent. decrease the quantity of jewelry purchased by 12 percent. increase the quantity of jewelry purchased by 12 percent. Q Search PRE hp