Fairness, according to behavioral economics,

Group of answer choices

-can be objectively standardized across individuals

-is too subjective to be considered in the analysis of economic behavior

-matters to people, but because of self-interest, fairness has little effect on their economic decisions.

-varies from one individual to another but still affects economic behavior in important ways.

Liquid flows at steady state at a rate of 2 lb/'s through a pump, which operates to raise the elevation of the liquid 100 ft from control volume inlet to exit. the liquid specific enthalpy at the inlet is 40.09 btu/lb and at the exit is 40.94 btub. the pump requires 3 btu/s of power to operate. if kinetic energy effects are negligible and gravitational acceleration is 32.174 tt/s, the heat transfer rate associated with this steady state process is most closely 1)-2,02 btu/s from the liquid to the surroundings 2)-3.98 btu/s from the surroundings to the liquid. 3)-4.96 btu/s from the surroundings to the liquid. 4)-1.04 btu/s from the liquid to the surroundings.