Jason went to a restaurant to buy something to eat. The menu included sandwiches ($5 each), soups ($3 each), salads (5$ each) and pasta dishes (10$ each). Jason wanted a sandwich, a soup and a salad. However, Jason had only $6 and decided to buy only a sandwich. Which of the following statements is wrong? Question 25 options: Jason did not have enough money to buy the food he wanted. This exemplifies the concept of scarcity. Jason decided to buy a sandwich, giving up the possibility to eat a salad or a soup. This exemplifies the concept of trade-off. Jason saved $1 after buying the sandwich. This is an example of normative statement. Jason preferred to buy a sandwich rather than a salad. This exemplifies the concept of opportunity cost.

Jason went to a restaurant to buy something to eat. The menu included sandwiches ($5 each), soups ($3 each), salads (5$ each) and pasta dishes (10$ each). Jason wanted a sandwich, a soup and a salad. However, Jason had only $6 and decided to buy only a sandwich. Which of the following statements is wrong? Question 25 options: Jason did not have enough money to buy the food he wanted. This exemplifies the concept of scarcity. Jason decided to buy a sandwich, giving up the possibility to eat a salad or a soup. This exemplifies the concept of trade-off. Jason saved $1 after buying the sandwich. This is an example of normative statement. Jason preferred to buy a sandwich rather than a salad. This exemplifies the concept of opportunity cost.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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