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Author Question: While waiting in line to buy one cheeseburger for 1.50 and a medium drink for 1.00, Sally notices ... (Read 113 times)

neverstopbelieb

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on: Jun 30, 2018
While waiting in line to buy one cheeseburger for 1.50 and a medium drink for 1.00, Sally notices that she could get a value meal that contains both the cheeseburger and medium drink and also a medium order of fries for 2.75 . She thinks to herself, Is it worth the extra 25 cents to get the medium fries? To an economist, Sally's decision is an example of:
 a. marginal analysis.
  b. basing decisions on total, rather than marginal, value.
  c. an unintended consequence.
  d. the fallacy of composition.

Question 2

While waiting in line to buy a cheeseburger for 2 and a drink for 75 cents, Aaron notices that the restaurant has a value meal containing a cheeseburger, drink, and French fries for 3 . For Aaron, the marginal cost of purchasing the French fries:
 a. would be zero.
  b. would be 25 cents.
  c. would be 50 cents.
  d. cannot be determined because the information about the price of the French fries is not provided.


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Cnarkel

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Reply #1 on: Jun 30, 2018
Answer to Question 1

a

Answer to Question 2

b


neverstopbelieb

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Reply 2 on: Jun 30, 2018
Great answer, keep it coming :)

nyrave

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Reply 3 on: Yesterday
:D TYSM

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