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  2. What is the reference point of a non-owner of a mug? Give both r1 and r2. Solve for the “buying price”, the maximum price at which a non-owner is willing to buy a mug.

What is the reference point of a non-owner of a mug? Give both r1 and r2. Solve for the “buying price”, the maximum price at which a non-owner is willing to buy a mug.

Posted by:Brian Posted on:Aug 16,2020
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2. This question asks you to think about the mug experiments discussed in class in terms of actual utility functions. Let two dimensions of choice be
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