Consumers Can Be Thought of as ________ Because They Tend

question 9

Multiple Choice

Consumers can be thought of as ________ because they tend to make decisions in the simplest way possible.

• A) high in need for cognition
• B) superprocessors
• C) utility maximizers
• D) cognitive misers

---

Definitions:

Average Wages

A measure of the average income earned by workers, calculated by dividing the total wage bill by the number of employees.

Compensating Differentials

Differences in wages that arise to offset the non-monetary characteristics of different jobs, such as risk or undesirable location.

Average Wages

The mean income of workers in a particular group, sector, or economy, calculated by dividing the total wages by the number of wage earners.

Gender Pay Gap

The average difference in pay between men and women, often highlighting disparities in earnings for similar work or across the labor market.