Jill Co Sells Thermometers ($2)and Hot Water Bottles ($6)

question 63

Multiple Choice

Jill Co. sells thermometers ($2) and hot water bottles ($6) . If total sales were $312 and customers bought 10 times as many thermometers as hot water bottles, what would be the number of hot water bottles sold?

• A)120
• B)119
• C)12
• D)11
• E)None of these

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Definitions:

Dictator Game

A behavioral experiment that tests how fairly individuals act towards others when given the unilateral power to determine the distribution of a resource.

Nudges

Subtle policy measures or cues that encourage people to make decisions that are in their broad self-interest without restricting their freedom of choice.

Hedonic Treadmill

The theory suggesting that people consistently return to a relatively stable level of happiness despite major positive or negative events or life changes.

Neoclassical Assumptions

The foundational premises of neoclassical economics, such as rational behavior, market equilibrium, and utility maximization.