From an Economic Perspective, When Consumers Leave a Fast-Food Restaurant

question 153

Multiple Choice

From an economic perspective, when consumers leave a fast-food restaurant because the lines to be served are too long, they have concluded that the:

• A)marginal cost of waiting is less than the marginal benefit of being served.
• B)marginal cost of waiting is greater than the marginal benefit of being served.
• C)management is exhibiting irrational behaviour by not maximizing profits.
• D)management is making an assumption that other things are equal.

---

Definitions:

Independent Variable

The variable in an experiment that is manipulated by the researcher to observe its effect on the dependent variable.

Comprehension

The ability to understand or grasp the meaning of something.

Test Scores

Quantitative measures obtained from educational assessments or exams; also not a key term in a statistical context alone, thus NO.

Reliable

A term indicating the consistency or repeatability of a measure or test over time.