Asked by Taylor Casbon on May 27, 2024
Verified
Which question BEST describes a "how much" decision?
A) Should I drive to work or ride my bicycle?
B) Should I rent a movie or watch a baseball game on television?
C) Should I attend graduate school or immediately enter the labor force?
D) Should I buy a third hot dog?
How Much Decision
A consumer's determination of the quantity of a good or service to purchase, balancing the marginal utility and the price.
- Analyze decision-making processes in "how much" and "either-or" scenarios.
Verified Answer
HN
Huong NguyenJun 01, 2024
Final Answer :
D
Explanation :
Buying a third hot dog is a "how much" decision because it involves deciding how much more food to consume.
Learning Objectives
- Analyze decision-making processes in "how much" and "either-or" scenarios.
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