At the beginning of a semester,a group of five students (Marcus,Gerard,Penelope,Zendaya,and Duane) are asked to order a snack that the teacher will deliver to the students free of charge before the first class of the tenth week of the semester.The three choices are an apple,a banana,or a Snickers candy bar.The teacher collects the orders and finds that two students have ordered an apple,two students have ordered a banana,and one student has ordered a Snickers candy bar.The four students who ordered either an apple or a banana cite health consciousness as the reason for their choice.
Immediately before the orders are scheduled to be delivered,the teacher informs the students that they can switch their choice and order something else from the original menu if they wish,or they can receive what they originally ordered.Which of the following scenarios is the best example of inconsistent intertemporal decision-making?
A) Marcus originally ordered an apple and did not change his choice when prompted.
B) Gerard ordered a banana and switched to an apple when prompted.
C) Penelope ordered an apple and switched to a banana when prompted.
D) Zendaya ordered a banana and switched to a Snickers candy bar when prompted.
E) Duane ordered a Snickers candy bar and did not change his choice when prompted.
Correct Answer:
Verified
Q57: The opposite of the gambler's fallacy is
Q58: Priming effects
A) occur when the ordering of
Q59: Consider the following scenario when answering the
Q60: In the 1990s,researchers Clotfelter,Cook,and Terrel analyzed data
Q61: Which general observation can be inferred from
Q63: Consider the following scenario when answering the
Q64: Mario knows that,over the long run,it is
Q65: Regina and Brenda are considering playing a
Q66: According to traditional economic theory,which presumes both
Q67: In behavioral economics,_ suggests that people place
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents