A Big Mac Meal Costs $3

question 17

Multiple Choice

A Big Mac meal costs $3.00 and gives you an additional 5 units of utility; a meal at the Four Seasons Hotel costs $27.00 and gives you an additional 45 units of utility. Based only on the information you have, using the theory of rational choice, you most likely would:

• A) choose to eat the Big Mac meal.
• B) choose to eat at the Four Seasons Hotel.
• C) be indifferent between eating the Big Mac and eating at the Four Seasons Hotel.
• D) decide that eating at the Four Seasons Hotel is preferable because though the marginal utilities of both meals are the same, the total utility is greater in the case of the meal at the Four Seasons Hotel.

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Definitions:

Short Period

A brief duration of time, often relative to a specific context or event.

Misuse Of Prescription Drugs

The act of taking medication in a manner other than prescribed, including taking someone else’s medication or taking it for the experience or feeling it causes.

Elderly

Pertaining to individuals in their later years of life, often considered to be those aged 65 and above, marked by various cognitive and physical changes.

Antipsychotic Medications

Drugs used to manage psychosis, including symptoms such as delusions and hallucinations, often found in schizophrenia and bipolar disorder.