The Maximum Price a Consumer Is Willing to Pay for a Second

question 88

Multiple Choice

The maximum price a consumer is willing to pay for a second bottle of water is _________ _.

• A)the consumer's marginal benefit of a second bottle of water
• B)equal to the consumer surplus
• C)equal to the consumer's total value of two bottles of water
• D)the consumer's marginal cost of a second bottle of water

---

Definitions:

ERG Theory

A theory of human motivation that categorizes needs into existence, relatedness, and growth, proposing that these needs can be pursued simultaneously.

Performance Ratings

Evaluations or assessments of an employee's job performance over a specific period.

Impressive Titles

Titles or designations given to jobs, roles, or positions that are designed to evoke respect, admiration, or a high status.

Promotions

Activities, including marketing and advertising, aimed at increasing awareness, sales, or visibility of a product, service, or brand.