Which of the Following Scenarios Describes an Action That Is

question 280

Multiple Choice

Which of the following scenarios describes an action that is not rational from an economic point of view?

• A) After drinking one martini (shaken, not stirred), James buys and drinks a second martini even though the marginal benefit of the second martini is lower than the marginal benefit of the first.
• B) Eric buys a replacement ticket to the basketball game after he realizes that he accidentally left his original ticket at home.
• C) Emily chooses to attend a social event on Tuesday night instead of studying even though she has an important exam on Wednesday morning.
• D) US Airways sells a last minute ticket to Don for $50 even though its average cost per passenger is $250.
• E) None of the above

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Definitions:

French Catholic

Pertaining to the Roman Catholic tradition within France, characterized by its own set of religious customs, cultural identity, and historical influence in French society.

Early Sociology

Refers to the study and development of sociological theories and practices in the late 19th and early 20th centuries.

Enlightenment Thinkers

Philosophers and intellectuals of the 18th century Enlightenment period who emphasized reason, science, and individual rights over tradition and authority.

Traditional Authorities

denote individuals or institutions that wield power through customs, traditions, or cultural consensus.