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Sublight2097 Sublight2097
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8 years ago
Suppose shoppers typically pay twice as much for frozen "convenience" foods compared to similar dinners they could prepare themselves. An economist would say
A) the purchase is inefficient because the consumer doesn't really need to pay twice as much for essentially the same dinner.
B) the purchase is inefficient because the frozen dinner is of even lower quality than the homemade dinner, yet twice as expensive.
C) the purchase is efficient if the consumer feels the savings in preparation time justifies the higher price.
D) the purchase is efficient, but the consumer is still probably behaving irrationally.
Textbook 
The Economic Way of Thinking

The Economic Way of Thinking


Edition: 13th
Authors:
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Chimelo46Chimelo46
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8 years ago
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Sublight2097 Author
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#2
8 years ago
Seriously, you've been tremendously helpful! Thank you.
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8 years ago
Glad to help you, and good luck with your course.
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