Economics (Irwin Economics)
21st Edition
ISBN: 9781259723223
Author: Campbell R. McConnell, Stanley L. Brue, Sean Masaki Flynn Dr.
Publisher: McGraw-Hill Education
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Question
Chapter 7, Problem 10DQ
To determine
The relation between the lawful consumer and criminal behavior.
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Students have asked these similar questions
People are more likely to purchase a consumer ratings magazine that reviews new
automobiles before buying a new car than they are to purchase a consumer ratings
magazine that reviews pens and pencils before buying a new pen or pencil. Which of the
following best explains this behavior?
O Because the consumer ratings magazine must have a higher price for the issue
reviewing pens and pencils.
Because the value of the information, in terms of avoiding a mistake on the purchase,
is much higher for an automobile than for a pen or pencil, it is more worthwhile to
gather this information.
Because people generally do not know which products are reviewed by these
consumer magazines.
None of the above explain this behavior.
6. All other things constant or nothing else changes
Juanita is a research assistant for her favorite biology professor, Dr. Ogechi. Dr. Ogechi is interested in studying the effects of feeding a certain
chemical to rats to see how it affects their appetites.
Juanita knows from her economics class that to isolate the effects of a particular phenomenon, all other things must remain the same. In Latin, this is
referred to as
In order to keep all other things the same and isolate the effects of one particular variable in the biology experiment, Juanita will want to do which of
the following? Check all that apply.
O Avoid drawing conclusions after one trial.
O offer the same type of food to the rats in ead trial.
O Make sure all tested rats are the same age.
When deciding which goods to consume, you should choose to consume the good with
the highest marginal utility per dollar.
O False, you should choose a combination of goods with equal marginal utility per dollar.
O True, consumers are maximizing marginal utility and should always choose the highest amount
per dollar.
O False, you should buy the cheapest good to get a higher level of total utility.
True, with diminishing marginal returns consuming more goods will reduce the marginal utility per
dollar.
Chapter 7 Solutions
Economics (Irwin Economics)
Ch. 7.1 - Prob. 1QQCh. 7.1 - Prob. 2QQCh. 7.1 - Prob. 3QQCh. 7.1 - Prob. 4QQCh. 7.A - Prob. 1ADQCh. 7.A - Prob. 2ADQCh. 7.A - Prob. 3ADQCh. 7.A - Prob. 1ARQCh. 7.A - Prob. 2ARQCh. 7.A - Prob. 1AP
Ch. 7.A - Prob. 2APCh. 7.A - Prob. 3APCh. 7 - Prob. 1DQCh. 7 - Prob. 2DQCh. 7 - Prob. 3DQCh. 7 - Prob. 4DQCh. 7 - Prob. 5DQCh. 7 - Prob. 6DQCh. 7 - Prob. 7DQCh. 7 - Prob. 8DQCh. 7 - Prob. 9DQCh. 7 - Prob. 10DQCh. 7 - Prob. 1RQCh. 7 - Prob. 2RQCh. 7 - Prob. 3RQCh. 7 - Prob. 4RQCh. 7 - Prob. 5RQCh. 7 - Prob. 1PCh. 7 - Prob. 2PCh. 7 - Prob. 3PCh. 7 - Prob. 4PCh. 7 - Prob. 5PCh. 7 - Prob. 6PCh. 7 - Prob. 7P
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