Howie Just Bought a New Digital Camera to Replace His

question 84

Multiple Choice

Howie just bought a new digital camera to replace his old one.His old one works perfectly fine and would sell on Craigslist for $100.The fact that Howie would not pay $100 for it,yet continues to let it sit in his closet unused is explained by:

• A) the implicit cost of ownership.
• B) the explicit cost of ownership.
• C) the explicit cost of sales.
• D) ignoring sunk costs.

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Definitions:

Eating Behaviour

Patterns or habits related to how, why, and what people eat, including the psychological, biological, and social factors influencing eating habits.

Ultradian Rhythm

Biological rhythms with a cycle shorter than 24 hours, such as stages of sleep or the pattern of hormonal release.

Free-Running Rhythm

Rhythm of the body’s own devising in the absence of all external cues.

Zeitgeber

Environmental event that entrains biological rhythms; German for “time giver.”