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To test the effects of eating on learning, Professor Lee permits her morning class to bring snacks to class but forbids her afternoon class from bringing snacks. To measure performance, she counts the number of "intelligent questions" asked by students in each class, and reports getting more such questions in the morning class. What are two serious flaws in this experiment?
Utility Maximization
A theory in economics suggesting that individuals or households seek to allocate their resources in a manner that maximizes their overall satisfaction or utility.
Marginal Costs
The cost added by producing one additional unit of a product, reflecting the variable costs involved in production.
Economic Rationality
The assumption that individuals make decisions based on maximizing utility or profit within constraints, following a logical and efficient approach.
Marginal Utility
The change in satisfaction or utility that a consumer experiences from consuming an additional unit of a good or service.
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