Emily Wants to Purchase a New Computer

question 84

Multiple Choice

Emily wants to purchase a new computer.She is unsure about what hardware and software she will need.As a result,she has begun asking for advice from friends and relatives.In addition,she has talked to several computer salespeople at Apple and Best Buy and has looked at some websites.Emily is engaging in

• A) problem recognition.
• B) an internal search.
• C) an external search.
• D) a purchase task.
• E) the creation of an antecedent state.

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Definitions:

Diminishing Returns

A principle stating that as more of a variable input is combined with a fixed input, the incremental gains in output will eventually decrease.

Increasing Returns

This refers to a scenario in economics where, as the quantity of input increases, the rate of output increases at a faster rate, leading to economies of scale.

Long-Run Total Cost

The aggregate cost of production when all factors of production are variable and the scale of operation can change.

Units of Variable K

In economics, this refers to units of a variable factor of production (K often denotes capital), where the quantity can be changed in the short run to increase or decrease production.