Suppose That an Individual Has a Constant MRS of Shoes

question 5

Multiple Choice

Suppose that an individual has a constant MRS of shoes for sneakers of 4:3 (that is,he or she is always willing to give up 3 pairs of sneakers to get 4 pairs of shoes) .Then,if sneakers and shoes are equally costly,he or she will:

• A)buy only sneakers.
• B)buy only shoes.
• C)spend his or her income equally on sneakers and shoes.
• D)wear sneakers only 3/4 of the time.

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Definitions:

Collective Unconscious

A concept introduced by Carl Jung that describes a segment of the unconscious mind formed from inherited memories and experiences, shared universally among humans.

Individual Psychology

A psychological framework which emphasizes understanding the uniqueness of each individual and how they strive for success and cope with feelings of inferiority.

Indivisible Whole

A concept referring to something that cannot be divided into smaller parts without losing its essential nature or function.

Treats Each Person

An approach or policy of individualized consideration and interaction, acknowledging the unique nature of each person.