(35 pts) Using the data below that describes the quantity consumed for consumers A, B and C at different prices graph the market demand for this good. Given the data below, which consumer is achieving the highest level of utility, why? Are these consumers rational, why?
chart
price A. b. c
1. 6 10 16
2. 4. 8. 13
3. 2. 6. 10
4. 0. 4 7
5. 0. 2 4
(50 pts) Write an introduction paragraph for an essay to argue for or against rational choice as a sound approach to economic science. Your paragraph will lead with a strong thesis sentence. Your thesis needs to be followed by two sentences that support your position. A third descriptive sentence will critique a defense of the alternative perspective. Your final sentence should identify how your argument is connected or why this is important based on the examples in the P&R text or problems raised by Patel. You should not turn in a first publish. Read you writing out load. Proofread and make sure you are turning in polished work. Your essay needs to be typed. Make sure you take advantage of the editing tools provided by the software.
Your paragraph will be assessed based on evidence of reading, did you follow the directions, and comprehension of topic (rational choice/optimization).
Recent Comments