Use the Following Information to Answer the Questions Below

question 5

Multiple Choice

Use the following information to answer the questions below.
You live in Atlantic Canada and you are Skyping a friend in Manitoba. You are both complaining about the weather as both regions are being subjected to the same arctic air mass. As you discuss it, however, it becomes clear that she is experiencing a bitter cold that you are not. You realize that you had pretty much the same conversation last summer when it was much hotter in Manitoba than at home.
-This phenomenon is due to

• A)solar energy at different latitudes.
• B)evolutionary adaptation to different climates.
• C)rate of vaporization.
• D)land freezing before water and thus land masses are colder.
• E)specific heat of water.

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Definitions:

Indifference Curve

A graph representing different bundles of goods between which a consumer is indifferent, showing the combination of two goods that give the same level of satisfaction to the consumer.

Marginal Utility

The change in total utility a person receives from consuming an additional unit of a good or service.

Utility Function

A mathematical representation that ranks an individual's preferences over a set of goods and services, based on the level of satisfaction or utility derived.

Optimal Utility Rule

A principle in consumer theory stating that consumers allocate their income in a way that maximizes their total utility, given their budget constraint.