After browsing the shoe store for a while, Bob buys a pair of Nike running shoes. Economists would say that Bob:
A)is revealing a strong distaste for New Balance running shoes.
B)will always choose Nike over any other shoe brand.
C)receives more utility per dollar from Nike running shoes than any other pair in the store.
D)would receive disutility from other pairs of running shoes.

Question

Quizplus · Accepted Answer

Bob's choice indicates he perceives more utility (satisfaction) per dollar from the Nike running shoes compared to other options available in the store, according to economic principles. This does not necessarily imply a distaste for other brands, a permanent preference for Nike, or that other shoes would cause disutility.

After Browsing the Shoe Store for a While, Bob Buys