Suppose a College Student Was Given a University Mug That

question 31

Multiple Choice

Suppose a college student was given a university mug that sells for $4 in the university bookstore, and now he is unwilling to sell it even for $10. Which of the following statements best reflects the student's behavior?

• A) Indifference curves are quasi-concave.
• B) The more you have of something, the more you want to get rid of it.
• C) The act of owning a good makes it more valuable.
• D) Preferences are not always logically consistent, violating the assumption of transitivity.

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Definitions:

Emotion

A complex psychological state involving an individual's subjective experience, physiological response, and behavioral expression.

China

A vast country in East Asia with the world's largest population and a rich history, known for its significant cultural, economic, and political impact globally.

United States

A country in North America consisting of 50 states and is known for its significant influence on global culture, politics, and economy.

Joy

Joy is an emotion of great pleasure and happiness, often arising from a sense of well-being or fulfillment.