At the beginning of a semester,a group of five students (Jim,Andy,Beth,Brandy,and Duane) were 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 were an apple,a banana,or a Snickers candy bar.The teacher collected the orders and found that two students ordered an apple,two students ordered a banana,and one student ordered a Snickers candy bar.The four students who ordered either an apple or a banana cited 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 choices 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) Jim originally ordered an apple and did not change his choice when prompted.
B) Andy ordered a banana and switched to an apple when prompted.
C) Beth ordered an apple and switched to a banana when prompted.
D) Brandy 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: Consider the following scenario to answer the
Q58: Proponents of fairness would likely believe that:
A)
Q59: John and Rebecca are playing an ultimatum
Q61: Consider the following scenario to answer the
Q63: Consider the following scenario to answer the
Q64: Consider the following scenario to answer the
Q65: Consider the following scenario to answer the
Q66: According to traditional economic theory,which presumes both
Q68: The _ game is an economic experiment
Q117: Consider the following scenario when answering the
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