(Consider This) the Economic Perspective Used in Customer Decision Making

question 254

Multiple Choice

(Consider This) The economic perspective used in customer decision making at fast-food restaurants is reflected in

• A) customers selecting the shortest line.
• B) decisions for which marginal costs exceed marginal benefits.
• C) all customer lines tending to be of different lengths.
• D) irrational purchasing of high-fat-content food.

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Definitions:

Marginal Product

Marginal product is the additional output resulting from the use of one more unit of a variable input, holding other inputs constant.

Fertilizer

Substances used to supply essential nutrients to plants, aiming to enhance growth, yields, and quality of agricultural produce.

Bushels

A unit of volume that is used in dry measure, equal to 32 quarts or approximately 35.2 liters.

Price

The price required to be paid for a product or service.