Which of the Following Is an Example of the Fact

question 92

Multiple Choice

Which of the following is an example of the fact that people are prone to inertia?​

• A)An individual deciding to continue with an insurance policy even after its premium rate increases and alternative policies are available in the market
• B)An individual deciding to decrease the consumption of a commodity when the utility derived from it falls
• C)An individual deciding to opt for additional savings schemes apart from those set as default by employers
• D)An individual replacing high-power electrical lights and appliances with low-power ones to reduce electricity consumption per month
• E)An individual visiting a new grocery store for her monthly grocery shopping

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Definitions:

Calculator Manufacturer

A company or entity involved in the production of calculators, ranging from basic to advanced scientific and graphing models.

Profit-maximizing

The process or strategy of adjusting production and sales to achieve the highest possible profit.

Payment to Labor

Compensation provided to workers for their labor, which can be in the form of wages, salaries, or benefits, for their contribution to production processes.

Marginal Revenue Product

The additional revenue generated by employing one more unit of a factor of production, holding all other inputs constant.