Assume You Are in a Store Looking at a Shirt

question 78

Multiple Choice

Assume you are in a store looking at a shirt you want to buy. You expect to buy the shirt until you look at the price, then you decide the shirt is not a good buy. How can your decision be viewed in economic terms?

• A) The shirt has zero marginal utility for you.
• B) The opportunity cost of the shirt was too low.
• C) The shirt's marginal utility divided by price was too low compared to other goods.
• D) The shirt's marginal utility divided by price was too high compared to other goods.
• E) None of the above answers is correct.

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Definitions:

Expressive Aphasia

A language disorder caused by damage to the brain that affects a person's ability to produce coherent speech and language.

Prosopagnosia

A specific inability to recognize faces, even very familiar ones, with intact recognition of other objects.

Arbitrariness

The lack of any necessary or natural relationship between a sign's physical form and its meaning.

Discreteness

The characteristic of data or systems that have distinct, separate values or components.