Suppose That Each Week Henry Buys 12 Peaches and 3

question 44

Multiple Choice

Suppose that each week Henry buys 12 peaches and 3 apples at his local farmer's market. Both kinds of fruit cost $1 each. From this we can infer that:

• A)Henry is not maximizing his utility.
• B)if Henry is maximizing his utility, then his marginal utility from the 12ᵗʰ peach he buys must be greater than his marginal utility from the 3ʳᵈ apple he buys.
• C)if Henry is maximizing his utility, then his marginal utility from the 12ᵗʰ peach he buys must equal his marginal utility from the 3ʳᵈ apple he buys.
• D)for Henry the law of diminishing marginal utility does not apply to peaches.

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Definitions:

Empirical Approach

A method of inquiry that relies on direct observation and experimentation to gather evidence and knowledge.

Psychodynamic Perspective

A psychological approach that emphasizes the systematic study of psychological forces that underlie human behavior, feelings, and emotions and how they might relate to early experience.

Observational Methods

Research techniques involving the systematic recording of observable behaviors or events in their natural settings.

Confidentiality

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