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- Assume it has been determined that those that identify themselves as liberal have a higher probability of buying Apple products. Explain this outcome two different ways: Part a) Using neoclassical economicsd) Another classmate cares more about good grades: She gets 50 units of happiness for a B and 80 units of happiness for an A. If this classmate were your partner (but your preferences remained the same), how would your answers to parts (a) and (b) change? Which of the two classmates would you prefer as a partner? Would she also want you as a partner?I cannot figure out how to start this problem for my behavioral economics course. I would appreciate any help offered on how to start with parts a,b, and/or c
- 9) A new area of economics studies situations in which people appear to be making choices that do not appear to be economically rational. This area is called behavioral economics social economics new wave economics. irrational economicsBehavioral economics a. integrates psychological insights into economic models. b. relies on the assumption that homo economicus describes economic decision-making. c. assumes that economic agents have full information about the conditions surrounding their decisions. d. All of the above are correct.QUESTION 39 39. Economic rationality or optimization means that people should compare the consequences of alternative actions or choices and select the one that maximizes net benefits (net of costs). is not an acceptable approach to life according to many philosophers, because they claim that some things, such as human life, should not be subject to this kind of calculation of costs and benefits. does not apply to choices involving human life. all of the above. only (a) and (b) are correct. OO C
- 18. Why could experiments be used to solve the endogeneity problem? [answer in no more than 50 words]Solve all this question......you will not solve all questions then I will give you down?? upvote.Create five questions covering the below question topic along with ideal answersthat you would expect: Functions (Equilibrium)
- please explian the answers to these two in deatilWhat can be observed in the statement? Provide examples and alternative solution for it.________ behavioral assumption about humans was that people usually act in a rational, self-interested way. Thomas Malthus's Adam Smith's Karl Marx's Janet Yellen's