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Which of the following best describes the term “compartmentalizing” in behavioral economics?

Refer to the table. Suppose that you have done some work for a neighbor and the neighbor offers you two payment options, A and B. The expected payoff for option B is: Option Payoff A Guaranteed payment $50 B A coin is tossed, payment made if heads comes up $100

Based on the above figure, the price elasticity of demand at a point midway between A and B is ______________,  indicating that the demand for this good in its current price range is _____.

  Quantity of Labor Quantity of Output (Q) Marginal Physical Product (MPP) Total Fixed Cost (TFC)   Variable Cost (Wage) Total Cost (TC) Marginal Cost (MC)    0     0   $0  $0 $0   1 5 (A) $0 $5 $5 (B) Assume that labor is the only variable input. Based on the above table, what is the marginal physical product (MPP) of the first unit of labor (A), and what is the marginal cost (MC) of producing this good with one unit of labor (B) [blanks (A) and (B)]?

The price of a given good rises by 20 percent and the quantity demanded of that good then falls by 10 percent. The coefficient of price elasticity of demand (Ed) is _____, indicating that the demand for this good in its current price range is _____.

You and your partner are watching a classic spy thriller movie.  Rather than being captured and interrogated, the enemy agent takes cyanide and dies, quickly. Your partner, a non-scientist, asks you why the cyanide was deadly. a.  Which glucose catabolic process (eg., glycolysis) is inhibited by cyanide? (1 point) b.  Why is inhibiting this process (your answer to part “a”) deadly so quickly?  (2 points) -Be very specific in your answers to “a” and “b”.  To receive full credit you must provide the name of the process that is inhibited by the cyanide (eg., glycolysis), and you must explain why this results in quick death. c.  You and your partner decide to test the effects of cyanide on a culture of bacteria that are obligate fermenters.  To your surprise, the bacteria aren’t killed by the cyanide.  Why not?  (2 points)  

Elasticity provides a technique for estimating the response of one variable to changes in some other variable and has numerous applications in economics. Price elasticity of demand measures _____________________________________  

You are helping your younger cousins with their history lessons, and come across accounts of how prior to the advent of antibiotics, physicians would deliberately infect syphilis (bacterial infection) patients with the malaria protozoan to induce a high fever.  Surprisingly, this was often effective, and the physicians would then use quinine to cure the malaria. Using the information you have learned for this exam, briefly explain to your cousins how this would work.  That is, what part of bacterial cell functioning would be affected by the higher temperature, and why? Note:  while degrading cytoplasmic membranes would certainly kill the syphilis bacterium, it would also kill the patients.  So, this is not a viable answer. 

Please, match the following descriptions with the correct economic concept (Long Run or Short Run)    

Suppose a consumer of goods x and y is maximizing total utility.  , where MU indicates marginal utility and P indicates price of good.  In this case A, a consumer will likely to purchase (1) _________________ , where MU indicates marginal utility and P indicates price of good.  In this case B, a consumer will likely to purchase (2) _________________