Need help wiht Principles of Microeconomics- Behavioral Economics

Dec 1st, 2015
Price: $20 USD

Question description

Assignment Details

400–600 words    DUE TOMORROW!!!!!!

Primary Task Response:

George Foreman was a professional boxer who made a comeback by endorsing grills. Foreman does not own the company that makes the grills, but he became the face of the brand. At first, people were not certain whether he was an expert on grills or fat-free cooking, but Foreman soon became thought of as the expert on this product and this type of cooking. Think of the concept of utility and how Foreman’s role as a celebrity endorser affects the marginal utility of these grill products.  Be substantive and clear, and use examples to reinforce your ideas.  Answer the following:

  • How do people’s budget, income, and substitution effects fit in?
  • How do you think this influences the demand curve for indoor grill products?
  • Are these choices made rationally? (answer must be detailed and more than one sentence) 

Provide 2 in-text citations,references with web addresses in APA Format.

Tutor Answer

(Top Tutor) Daniel C.
School: UCLA

Studypool has helped 1,244,100 students

Review from our student for this Answer

Dec 1st, 2015
"Excellent work as always thanks so much"
Ask your homework questions. Receive quality answers!

Type your question here (or upload an image)

1821 tutors are online

Brown University

1271 Tutors

California Institute of Technology

2131 Tutors

Carnegie Mellon University

982 Tutors

Columbia University

1256 Tutors

Dartmouth University

2113 Tutors

Emory University

2279 Tutors

Harvard University

599 Tutors

Massachusetts Institute of Technology

2319 Tutors

New York University

1645 Tutors

Notre Dam University

1911 Tutors

Oklahoma University

2122 Tutors

Pennsylvania State University

932 Tutors

Princeton University

1211 Tutors

Stanford University

983 Tutors

University of California

1282 Tutors

Oxford University

123 Tutors

Yale University

2325 Tutors