While Waiting in Line to Buy One Cheeseburger for $1

question 97

Multiple Choice

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.

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Definitions:

Childhood Caregivers

Individuals, often parents or guardians, responsible for providing support, protection, and basic needs to children during their formative years.

Nurturing

Providing care, support, and encouragement, thereby promoting growth, well-being, and development.

Biological Parents

The individuals whose genetic material a person inherits; often referred to as birth parents.

Values

Core beliefs or standards that guide and shape an individual's behavior and decision-making.