One Way to Promote a New Business Is to Offer

question 82

Multiple Choice

One way to promote a new business is to offer free items.If you were to open a new restaurant and offer free food,you likely would have a line out the door.How would an economist understand the behavior of those standing in line?

• A) Those waiting in line place a high value on the use of their time.
• B) Those waiting in line believe that the marginal cost of waiting in line exceeds the marginal benefit of waiting in line.
• C) Those waiting in line place a low value on the use of their time.
• D) Those waiting in line believe that the marginal cost of waiting in line is zero.
• E) Those waiting in line believe that the marginal benefit of waiting in line is zero.

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Definitions:

Future

The time or a period of time following the moment of speaking or writing; time regarded as still to come.

Cognitive Schema

Mental structures that represent certain aspects of the world and influence understanding, perception, and memory.

Genetic Predisposition

The increased likelihood of developing a particular disease or condition due to one's genetic makeup.

Brain Dysfunction

Brain dysfunction encompasses various disorders that impair the normal functioning of the brain, leading to cognitive, emotional, or physical impairments.