Question : Introduction 1) Which of the following correctly describes incentives? A) Incentives : 1377340

Economics

Introduction

1) Which of the following correctly describes incentives?

A) Incentives refer to the maximum price that a buyer is willing to pay for a good.

B) Incentives are rewards or penalties that motivate people to behave in a particular way.

C) Incentives are prices that are fixed by the government and not by market forces.

D) Incentives refer to the minimum price at which a seller is willing to sell a product.

2) Which of the following statements is true of incentives?

A) Incentives can be financial or moral, but not coercive.

B) Incentives can be financial or coercive, but not moral.

C) Incentives are designed to change behavior.

D) Incentives are always in the form of rewards.

5.1 The Buyer’s Problem

1) Which of the following is NOT a direct determining factor of a consumer’s purchase decisions?

A) Consumer’s tastes and preferences

B) Market price of the finished goods

C) Cost of factor inputs

D) Consumer’s income

A) wealth she has acquired over time.

B) prices of the goods she buys.

C) amount of money she can spend on various goods and services.

D) difference between the consumer’s income and expenditure.

3) Which of the following statements is true?

A) Consumers’ tastes and preferences do not change over time.

B) Tastes and preferences of a consumer determine the satisfaction she receives from consumption.

C) Tastes and preferences of a consumer are not revealed through her buying decisions and consumption patterns.

D) Tastes and preferences of a consumer do not play an important role in arriving at a buying decision.

4) Suppose the prices of a pair of jeans, a shirt, and a tie are $30, $20, and $10 respectively. Which of the following statements is true in this context?

A) The opportunity cost of buying a pair of jeans is 2 ties.

B) The opportunity cost of buying a tie is 3 pairs of jeans.

C) The opportunity cost of buying a tie is 2 shirts.

D) The opportunity cost of buying a shirt is 2 ties.

5) Which of the following statements is true?

A) A price-maker is a buyer who can purchase any amount of a good he wants, at a fixed price, if he has the money to pay for it.

B) All buyers in a perfectly competitive market are price-makers.

C) The relative prices of goods do not affect a consumer’s buying decision.

D) A consumer in a perfectly competitive market buys only a tiny fraction of the total amount produced.

6) In a perfectly competitive market, all consumers:

A) are price-takers.

B) are price-makers.

C) have exactly the same demand schedules.

D) have exactly the same tastes and preferences.

7) A buyer is said to be a price-taker if she:

A) can bargain over the prices of the goods she consumes.

B) can purchase any amount of a good at a fixed price provided he has the money to pay for it.

C) always pays less than the market determined price for the goods she is consuming.

D) ignores the prices of related goods and consider only the price of the goods she is purchasing.

8) The set of all possible bundles of goods and services that can be purchased with a consumer’s income is referred to as the:

A) demand set.

B) supply set.

C) budget set.

D) universal set.

9) If a consumer purchases any combination of goods and services on his ________, he will exhaust his income completely.

A) indifference curve

B) budget constraint

C) demand schedule

D) demand function

10) Assume that a consumer can spend $20 on two goods–pens and pencils. If the price of one pen is $5 and the price of one pencil is $2, which of the following combinations of the two goods represents a point on the consumers budget constraint?

A) 3 pens and 2 pencils

B) 1 pen and 10 pencils

C) 2 pens and 5 pencils

D) 2 pens and 3 pencils

11) Assume that a combination of 10 bottles of wine and 2 liters of milk lies on a consumer’s budget constraint. If the price of one bottle of wine is $10, and one liter of milk is $1, what is the consumer’s income?

A) $100

B) $20

C) $120

D) $102

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July 1, 2023

Paula Plaintiff's Really Bad Week, Part 1

Introduction

In this assignment, you’ll need to decide whether Paula Plaintiff has any legal claims arising from a series of unfortunate events. After reading the scenario, answer the questions that follow, making sure to fully explain the basis of your decision.

Paula Plaintiff is shopping at her favorite store, Cash Mart. She is looking for a new laptop, but she can’t find one she likes. Then, realizing that she is going to be late for an appointment, she attempts to leave the store, walking very fast. However, before she can leave, she is stopped by a security guard who accuses her of shoplifting. Paula, who has taken nothing, denies any wrong doing. The officer insists and takes Paula to a small room in the back of the store. The guard tells Paula that if she attempts to leave the room she will be arrested and sent to jail. At this point, the guard leaves the room. Paula is scared and waits in the room for over an hour until the manager comes in and apologizes and tells Paula that she is free to go.

About this same time, Geoffrey Golfer is hitting golf balls in his backyard. Geoffrey decides to break out his new driver and hits a golf ball out of his backyard into the Cash Mart parking lot. The golf ball hits Paula Plaintiff on the head and knocks her unconscious just as she is leaving the store.

Instructions

In a 6–10 paragraph paper, answer the following questions:

· What types of legal claims could Paula make against Cash Mart and Geoffrey? Consider the following:

o What are the possible tort claims that Paula can make against Cash Mart? Discuss the elements of the claim and how those elements relate to the facts in the scenario.

o Was Geoffrey negligent when he hit the golf ball that injured Paula? Discuss the elements of negligence and use facts from the scenario to support your decision.

o If Paula files a negligence claim against Geoffrey will she file in civil court or criminal court? Explain the difference between civil court and criminal court.

You will create and submit your assignment by using the ecree link. Just click on the link and start writing. Your work will be saved automatically. You’ll see some feedback on the right-hand side of the screen, including text and videos to help guide you in the writing process. When you’re ready, you can turn in your assignment by clicking Submit at the bottom of the page.

Click the assignment link to start your assignment in ecree. Please note that ecree works best in Firefox and Chrome.

This course requires the use of Strayer Writing Standards. For assistance and information, please refer to the Strayer Writing Standards link in the left-hand menu of your course.

In addition to your textbook, you have access to Nexus Uni through the Strayer University Library. Please take advantage of this excellent legal resource!

The specific course learning outcome associated with this assignment is:

· Determine if a plaintiff can make legal claims based on the events in a given scenario.