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help with alevel economics homework

hi i am doing alevel economics edexcel A and im on the topic ratioanl behaviour (1.2.1 and 1.2.10) and im stuck on this question- 'Explain how the influence of other peoples' behaviour could lead to mobile phone consumers not utility maximizing' with the extract given ' Two freinds, Mitchell and Mark, both subcribe to 02 and have not swicthced their mobile phone providers for serval years despite better deals being available on other networks'

please reply and help answer this 4 mark question (also give tips how to answer questions like this for 4 mark questions)
Original post by stargirl28
hi i am doing alevel economics edexcel A and im on the topic ratioanl behaviour (1.2.1 and 1.2.10) and im stuck on this question- 'Explain how the influence of other peoples' behaviour could lead to mobile phone consumers not utility maximizing' with the extract given ' Two freinds, Mitchell and Mark, both subcribe to 02 and have not swicthced their mobile phone providers for serval years despite better deals being available on other networks'

please reply and help answer this 4 mark question (also give tips how to answer questions like this for 4 mark questions)

typically with 4 markers you want define the terms in the question use at least 3 points of data in your answer and try and make a caluclation if possible. The analyse your calculations or data refrences this should comfortably put you into 3-4 marks.
More relative to the questions try and name the effect and analyse why that is not utility maximising. You could talk about opportunity cost of not changing. saying about how this means they are nost getting best util per pound meaning they arent utility maximising. im second year and did rational behvaiour a bit of time ago but this could be caused by anchoring or herding/social norms as friend may of hereded them to choose this phone provider or it ay be as a aocial norm to go for that phone provider as there friends had it then you go on to analyse why that doesnt maximimes utility trying to use data. hope that helps if not just say what isnt making sense. (sorry for spelling errors)
Reply 2
Original post by charlie.R.12
typically with 4 markers you want define the terms in the question use at least 3 points of data in your answer and try and make a caluclation if possible. The analyse your calculations or data refrences this should comfortably put you into 3-4 marks.
More relative to the questions try and name the effect and analyse why that is not utility maximising. You could talk about opportunity cost of not changing. saying about how this means they are nost getting best util per pound meaning they arent utility maximising. im second year and did rational behvaiour a bit of time ago but this could be caused by anchoring or herding/social norms as friend may of hereded them to choose this phone provider or it ay be as a aocial norm to go for that phone provider as there friends had it then you go on to analyse why that doesnt maximimes utility trying to use data. hope that helps if not just say what isnt making sense. (sorry for spelling errors)

thank you soo much you really helped me :smile:

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