Refer to the scenario above. If Frank discounts delayed utilities with a weight of 1/4, then which of the following statements is true?
A) He will consume both hotdogs and ice cream.
B) He will avoid consuming both hotdogs and ice cream.
C) He will consume ice cream but will avoid consuming hotdogs.
D) He will consume hotdogs but will avoid consuming ice cream.
A
Economics
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Which of the following decrease demand for any good or service?
A. Falling incomes and the product is a normal good. B. A decrease in the price of a substitute good. C. Consumer expectations that either prices or income will rise in the future. D. An increase in the number of buyers. E. An unfavorable change in consumer tastes.
Economics
An initial allocation of goods is called a(n)
A) endowment. B) inheritance. C) pareto set. D) general-equilibrium goods set.
Economics