(Consider This) Consumers might leave a fast-food restaurant without being served because:
A. they are misinformed about the marginal cost and marginal benefits of the food being
served.
B. they conclude that the marginal cost (monetary plus time costs) exceeds the marginal
benefit.
C. the environment is not conducive to a rational choice.
D. the lines waiting for service are not of equal length.
Answer: B
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Sources of reduced volatility of demand shocks include all of the following EXCEPT
A) smaller ups and downs of military spending. B) residential construction. C) inventory changes. D) saving rates.
A move from one point on a contract curve to another point on the contract curve will make
A) both individuals better off. B) both individuals worse off. C) one individual better off and the other individual worse off. D) the goods more expensive.