As Sonya Was Waiting for Her Physics Class to Begin

question 20

Multiple Choice

As Sonya was waiting for her physics class to begin, she got a text from her older sister telling her that she just got engaged. Sonya was thrilled to hear the news and texted her sister back, saying she'd call her after class. During class, Sonya had difficulty paying attention because all she could think about was the upcoming wedding. Before she realized it, the class was over, and as her classmates began filing out of the room, she realized she had no idea what the instructor talked about during class. With the midterm exam only a week away, Sonya fears that she might have missed something important while thinking about her sister's wedding. What should Sonya do?

• A) spend extra time reading the next chapter in the textbook
• B) focus on her notes from other chapters and try not to worry about what she missed
• C) assume she'll do poorly and focus on studying for her other classes instead
• D) visit her physics instructor during office hours to review the material

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Definitions:

Competitive Equilibrium

A market state where supply equals demand, leaving no incentive for price changes as long as external conditions remain constant.

Homothetic Preferences

Preferences where if a consumer prefers a bundle of goods A to B, they will also prefer a scaled-up version of A to the same scale-up of B, maintaining the same proportions.

Marginal Rate of Substitution

How quickly a consumer agrees to trade one good for another, aiming to keep their level of pleasure steady.

Edgeworth Box

A diagram used in economics to show the distribution of resources, illustrating how different mixes of goods can lead to an optimal allocation.