Question
Ning owns an Iphone 5. One day she loses her phone and contemplates a replacement.She considers buying an IPhoneXR for $1200 but eventually decides it's
Ning owns an Iphone 5. One day she loses her phone and contemplates a replacement.She considers buying an IPhoneXR for $1200 but eventually decides it's too expensive and buys a used IPhone 5, identical to the one she lost for $100 on Ebay.
A. Her behavior has revealed her preferences for the IPhone XR. The value of an IPhone XR to Ning ismore than/less than/equal to $1200?
B. Her behavior has also revealed her preferences for the IPhone 5. The value of an IPhone 5 to Ning ismore than/less than/equal to $100?
C. Before she can buy a replacement phone, Ning's boyfriend offers to buy her a new phone. He is a very nice person and says he will buy any phone she wants. Ning chooses an IPhone XR.
D. Ning's behavior has revealed thatan IphoneXR has more value to her than an IPhone 5/an Iphone 5 has more value to her than an IPhone XR?
E. She has also revealed that the value of IPhone XR toher isless than zero/greater than zero?
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