You can evaluate the credibility of a source by looking at:
- The author: if an article doesn't list an author, this is a red flag
- The date: Research and news needs to up-to-date in order to be the most accurate
- Sources: Credible articles will cite the sources that they used.
-Domain: .com and .org sites can be purchased by normal people and their information may or may not be credible. .edu sites are educational and .gov sites are operated by the government. These sites are typically credible sources of information
-Design and style: look to see if the site is organized in a professional manner and is free from spelling and grammar errors
Answer:
See attached picture.
Explanation:
See attached picture for explanation.
Answer:
a. Toby is not maximizing his utility
b. Toby should reduce his spending on cashew and increase his spending on peanuts.
Explanation:
a. Is Toby maximizing his total utility from the kinds of nuts? If so, explain how you know.
Toby will maximize his utility when we have:
MUp/Pp = MUc/Pc
Where;
MUp/Pp = Marginal utility of peanut divided by price of peanut = 100/10 = 10
MUc/Pc = Marginal utility of cashew divided by price of cash = 200/25 = 8
From the above, Toby is not maximizing his utility. I am able to know this because MUp/Pp > MUc/Pc (i.e. 10 > 8). An Toby will only maximize his utility when MUp/Pp = MUc/Pc.
b. If not, how should he rearrange his spending?
Since MUp/Pp > MUc/Pc (i.e. 10 > 8), Toby should reduce his spending on cashew in order to increase MUc and increase his spending on peanuts reduce MUp until MUp/Pp = MUc/Pc.
Answer:
c. lifestyle
Explanation:
The reason why Patrick made his choice was because of his style of living, the way he spends his time and money. He is someone that love to live a stylish life, thus the reason behind picking the boot. This better reveals psychology and not functional needs.
