Which of the Following Is an Example of Habit Acquisition

question 94

Multiple Choice

Which of the following is an example of habit acquisition?

• A) For every ten cups of coffee you purchase at a local convenience store, you get one free.
• B) A salesclerk gives out free samples of Bush's brand home style chili at Sam's Club.
• C) Reynar, a long-time Crest toothpaste user, receives a coupon for a free trial-size of Rembrandt toothpaste in the mail.
• D) Verizon wireless offers customers a discount on their new phone purchase in exchange for signing a two-year contract when they sign up for service.
• E) The new Kroger supermarket is holding a grand opening with numerous buy-one-get-one-free items to attract shoppers from other supermarkets.

Analyze the strategic interactions between firms in a competitive industry through mathematical modeling.

Understand and apply the concept of utility functions in economic decision-making.

Calculate the maximum amount individuals are willing to pay for a good given their utility functions and budget constraints.

Demonstrate how to find Pareto optimal allocations of resources between public and private goods.

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Definitions:

Election of 1896

A pivotal presidential election in the United States where Republican William McKinley defeated Democrat William Jennings Bryan, highlighting a deep economic divide in the country.

Republicans

A political party in the United States that traditionally supports a conservative agenda, emphasizing limited government, free-market policies, and individual liberties.

Small Farmers

Individuals or families owning and operating relatively small parcels of land, primarily engaged in subsistence farming or limited cash crop production.