Refer to the Information Provided in Table 6 -Refer to Table 6

question 155

Multiple Choice

Refer to the information provided in Table 6.1 below to answer the question(s) that follow.
Table 6.1
$$\begin{array} { | c | c | c | } \hline \begin{array} { c } \text { Number of } \\\text { Hamburgers per } \\\text { Day }\end{array} & \text { Total Utility } & \text { Marginal Utility } \\\hline 1 & 30 & \\\hline 2 & 52 & \\\hline 3 & 67 & \\\hline 4 & 76 & \\\hline 5 & & 4 \\\hline \begin{array} { c } \text { Number of } \\\text { Sodas per Day }\end{array} & \text { Total Utility } & \text { Marginal Utility } \\\hline 1 & 20 & \\\hline 2 & 35 & \\\hline 3 & 47 & \\\hline 4 & 57 & \\\hline 5 & & 7 \\\hline\end{array}$$
-Refer to Table 6.1. Assume that a store is giving hamburgers and sodas away for free. Consumers can have as many sodas and hamburgers as they want, but the food has to be consumed one unit at a time. If George has already had one soda and two hamburgers, then George should

• A) next consume a soda to maximize his utility.
• B) next consume a hamburger to maximize his utility.
• C) be indifferent between consuming the second soda or the third hamburger.
• D) consume neither another soda nor another hamburger to maximize his utility.

Understand the principles of offer and acceptance in contract formation.

Identify the conditions under which an advertisement constitutes an offer or an invitation to treat.

Recognize the role of consideration and intention in establishing a legal relationship.

Distinguish between unilateral and bilateral contracts.

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Definitions:

Social Perception

The process of interpreting information about another person to form an impression of them, influenced by social norms, stereotypes, and personal experiences.

Perceiver

A perceiver is an individual or entity that interprets or makes sense of information, events, or stimuli from their surroundings.

Characteristics

The distinguishing traits, qualities, or properties that define an individual, group, or thing.

Self-Fulfilling Prophecies

A prediction that directly or indirectly causes itself to become true, due to positive feedback between belief and behavior.