Which of the Following Scenarios Describes an Action That Is

question 280

Multiple Choice

Which of the following scenarios describes an action that is not rational from an economic point of view?

• A) After drinking one martini (shaken, not stirred), James buys and drinks a second martini even though the marginal benefit of the second martini is lower than the marginal benefit of the first.
• B) Eric buys a replacement ticket to the basketball game after he realizes that he accidentally left his original ticket at home.
• C) Emily chooses to attend a social event on Tuesday night instead of studying even though she has an important exam on Wednesday morning.
• D) US Airways sells a last minute ticket to Don for $50 even though its average cost per passenger is $250.
• E) None of the above

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Definitions:

France

A country in Western Europe known for its rich history, cultural landmarks such as the Eiffel Tower, and significant contributions to art, science, and philosophy.

Iraq

A country in Western Asia, bordered by Turkey, Iran, Kuwait, Saudi Arabia, Jordan, and Syria, notable for its ancient Mesopotamian heritage and rich reserves of oil.

North Korea

An East Asian country officially known as the Democratic People's Republic of Korea, known for its totalitarian regime, dynastic leadership, and isolation from much of the international community.

U.S. Troops

Members of the United States armed forces, including the Army, Navy, Air Force, Marine Corps, and Coast Guard.