The Price of a Pound of Sirloin Steak Is Five

question 51

Multiple Choice

The price of a pound of sirloin steak is five times the price of a pound of ground beef.You are not in consumer equilibrium unless:

• A) you consume five times as much ground beef as you do sirloin steak.
• B) you consume five times as much sirloin steak as you do ground beef.
• C) the total utility you derive from consuming sirloin steak is five times the total utility you derive from consuming ground beef.
• D) your marginal utility from the last pound of sirloin steak consumed is five times that of the last pound of ground beef consumed.

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Definitions:

Social Traps

Situations where a group or individual acts in a way that produces short-term rewards but leads to long-term negative consequences.

Ingroup Bias

The tendency to favor and prioritize the group to which one belongs over others.

Sexual Submission

A sexual practice or lifestyle where an individual consents to give control to a partner during sexual activities.

Sexual Interest

The desire or attraction one feels towards others, which can be directed towards specific genders, behaviors, or characteristics.