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Kaylis [27]
1 year ago
10

Indicate whether each of the following examples of behavior is consistent with the utility-maximization framework of traditional

economics or is better explained by concepts developed by behavioral economists
Business
1 answer:
KatRina [158]1 year ago
6 0

The examples are given below:

  • There are people who pursue a degree in theater rather than science, even though scientific careers are usually much higher-paying.= Consistent with the Predictions of Traditional Economic Models

  • Some people care about how much money they make relative to other people rather than their absolute level of income.= Reserved for Behavioral Economics

  • Some people would be willing to make a large sacrifice in order to help a loved one.= Consistent with the Predictions of Traditional Economic Models

  • Some people treat $75 they earn differently from $75 they receive as a gift.= Reserved for Behavioral Economics

What is meant by Behavioral economics?

Behavioral economics combines elements of economics and psychology to understand how and why people behave the way they do in the real world. It differs from neoclassical economics, which assumes that most people have well-defined preferences and make well-informed, self-interested decisions based on those preferences.

What are behavioral economic strategies?

Behavioural economics aids marketing strategies by understanding how consumer decisions can be influenced. As a result, making small changes to the product, the branding or the choices you offer can massively influence consumer behaviour.

Learn more about behavior:

brainly.com/question/21711827

#SPJ4

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Ymorist [56]

Answer:

The value of Q = $10,723

Explanation:

Please find attached.

6 0
3 years ago
True or False: Through the use permission marketing programs, customers are allowed to select the type of communications compani
Ulleksa [173]

The given statement is true.

Customers may pick the kind of communications that businesses can have with them via usage permission marketing programs, and they can even opt to be fully removed from both email and conventional mailing lists.

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Consumers now have more influence over communication thanks to the emergence of new technologies. Websites monitor visitors using tools like cookies, pixels, and fingerprinting to analyze browsing habits and deliver tailored information.

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5 0
1 year ago
Album Co. issued 10-year $200,000 debenture bonds on January 2. The bonds pay interest semiannually. Album uses the effective in
trapecia [35]

Answer: 12%

Explanation:

Stated interest rate is used in the calculation of the annual interest payment.

Interest payment = Face value of bonds * Stated interest rate

Annual Interest payment = Semi annual interest payment * 2

= 12,000 * 2

= $24,000

24,000 = 200,000 * Stated interest

Stated interest = 24,000 / 200,000

= 0.12

= 12%

3 0
3 years ago
When the price of good A rises from ​$11 to ​$33​, the quantity of good A demanded decreases from 400400 to 200200 units a day a
Novay_Z [31]

Answer:

The correct answer is option A.

Explanation:

The price of good A is initially at $11.

The initial demand of A  is 400 units.

The price increases to $33.

The demand of A , as a result, falls to 200 units.

The demand for good C is initially at 150 units.

With increase in price of A, the demand rises to 250 units.

The positive cross elasticity as given in the figure represents that the two goods are substitutes. When price of A increases, consumer will prefer its cheaper substitute. So, the demand for good C will increase.

6 0
3 years ago
The amount by which government expenditures exceed revenues during a particular year is the?
guajiro [1.7K]

Answer: Budget Deficit

Explanation:

8 0
2 years ago
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