The Representative Consumer Acts Competitively

question 62

Multiple Choice

The representative consumer acts competitively

• A) when he or she can haggle for a lower price.
• B) when he or she is a price-taker.
• C) when he or she is a price-maker.
• D) if the consumer is large relative to the size of the market.
• E) when he or she has to make decisions regarding work and leisure.

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Definitions:

Empiricists

Philosophers who believe that knowledge comes primarily from sensory experience.

Human Diversity

The range of differences among humans, including but not limited to race, ethnicity, gender, age, sexual orientation, and disability.

Genes

Units of heredity made up of DNA that act as instructions to make molecules called proteins, influencing individual traits.

Nativists

Scholars who argue that certain skills or abilities are innate and hard-wired into the brain at birth.