Related to the Economics in Practice on Page 130: Assuming

question 21

Multiple Choice

Related to the Economics in Practice on page 130: Assuming people wish to maximize utility, those who choose to dine at fast-food restaurants rather than more expensive restaurants must be receiving ________ from dining at the fast-food restaurant than at the more expensive restaurant.

• A) greater marginal utility
• B) lower marginal utility
• C) greater marginal utility per dollar
• D) lower marginal utility per dollar

---

Definitions:

Automobile Imports

Cars and other vehicles brought into a country from abroad for sale, reflecting the trade and economic relations between countries.

Japanese Transplants

Foreign-owned manufacturing plants operated by Japanese companies in another country, typically for automotive production.

Concentration Ratio

A measure used to determine the market share of the largest firms in the industry, showcasing the extent of market control.

Tobacco

A plant product processed and used primarily for smoking, chewing, or as snuff, often associated with health risks.