As Beth and Rob Search for a New Home, They

question 44

Multiple Choice

As Beth and Rob search for a new home, they are interested only in houses built by a particular builder. This purchase is characteristic of a(n) ____ product.

• A) branded
• B) non-durable
• C) unique
• D) shopping
• E) specialty

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Definitions:

Marginal Utility

The additional satisfaction or utility received by consuming one more unit of a good or service.

Soft Drinks

Non-alcoholic beverages that are usually carbonated and contain various flavorings and sweeteners.

Chips

Thin slices of potatoes, vegetables, or other foods, fried or baked until crispy, commonly served as a snack or side dish.

Equal Marginal Principle

The principle stating that optimal allocation occurs when the marginal benefits from allocation of resources to different uses are equalized.