Corey has a blue sweater and a denim jacket. On some days he chooses to wear the sweater but on others he chooses to wear the jacket. Economists would most likely conclude that:
A)Corey's preferences have changed.
B)Corey's preferences have not changed, but other factors, such as the temperature outside, may have changed.
C)Corey is not acting rationally but rather considering the emotional impact of his choice.
D)Corey's preferences for wearing a jacket versus wearing a sweater are not defined.

Question

Quizplus · Accepted Answer

Economists would likely conclude that Corey's preferences have not changed, but other factors influencing his choice, such as the temperature outside, may have changed. This reflects the idea that external conditions can influence decision-making without altering underlying preferences.

Corey Has a Blue Sweater and a Denim Jacket