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:

Self-Promotion

The act of marketing oneself to others to improve visibility, credibility, and career opportunities.

Impression Management

The process by which people attempt to control the perceptions others have of them.

Exemplification

The act of showing or illustrating by example.

High Consensus

A situation where there is widespread or unanimous agreement among members of a group or organization.