Kendra Is 10 Years Old

question 159

Multiple Choice

Kendra is 10 years old. When presented with a story of a girl who likes to work on cars, Kendra will likely say that the girl _____ be allowed to work on cars, and/but she _____ be teased for doing that.

• A) should; probably will not
• B) should not; probably will
• C) should; probably will
• D) should not; probably will not

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Definitions:

Strictly Convex

A term often used in mathematics and economics to describe a curve or function that curves away from the origin more sharply than a straight line, indicating increasing marginal effects.

Perfect Substitutes

Perfect substitutes are products or services that can be used in exactly the same way, offering the same utility to consumers, thus one can replace the other without loss of value or function.

Homothetic Preferences

Consumer preferences that are consistent or proportionate across different scales or levels of consumption, indicating a straight line through the origin in a utility function graph.

Quasilinear Preferences

Preferences where utility is a linear function of one good, making the consumer's marginal rate of substitution between goods independent of the level of consumption of that good.