Observations of violations of consumer optimum predicted by consumer choice theory could provide support for
I. utility analysis
II. bounded rationality
III. behavioral economics

The amount of time an individual is willing to offer for a wage depends on the

a. all of the following b. value of time devoted to leisure activities c. boredom, discomfort, and aggravation associated with work d. value of time devoted to nonmarket work e. satisfaction gained from goods purchased with the wages

When can two countries gain from trading two goods?

a. when the first country can only produce the first good and the second country can only produce the second good b. when the first country can produce both goods, but can only produce the second good at great cost, and the second country can produce both goods, but can only produce the first good at great cost c. when the first country is better at producing both goods and the second country is worse at producing both goods d. Two countries could gain from trading two goods under all of the above conditions.