Multiple Choice
An economist observes two consumers in a supermarket.One of the consumers buys a case of Coca-Cola and the other buys a case of Pepsi-Cola.Both colas sell for the same price and the ages and incomes of the consumers are also the same.Based on this information, how would the economist explain the consumers' choices?
A) One of the consumers made the wrong choice, but it is impossible to say which one.
B) Both consumers should have considered buying other colas that had lower prices.
C) Both consumers should have purchased less than a case because they would be able to buy more later.
D) Apparently, the consumers had different tastes.
Correct Answer:

Verified
Correct Answer:
Verified
Q269: A change in the price of a
Q270: Jamal, Lawson, and Kyle have been standing
Q271: The substitution effect of a price increase
Q272: Most people would prefer to drive a
Q273: Which of the following statements describes economists'
Q275: Figure 10-8<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB4193/.jpg" alt="Figure 10-8
Q276: Figure 10-6<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB4193/.jpg" alt="Figure 10-6
Q277: Figure 10-1<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB4193/.jpg" alt="Figure 10-1
Q278: Article Summary<br>The use of celebrity endorsements can
Q279: Economists have used the ultimatum game and