(Table) According to the Table, in a Two-Person Market That $\quad$

question 39

Multiple Choice

(Table) According to the table, in a two-person market that includes person A and person B, the willingness to pay for the second doughnut is: $\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\text {Willingness to Pay for One,}$
$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\text { Two, Three, or Four }$
$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\text {Doughnuts}$
$\begin{array} { l c c } & \text { Person A } & \text { Person B } \\ \text { First Doughnut } & \$ 5 & \$ 8 \\ \text { Second Doughnut } & \$ 3 & \$ 6 \\ \text { Third Doughnut } & \$ 2 & \$ 4 \\ \text { Fourth Doughnut } & \$ 1 & \$ 0 \end{array}$

• A) $3.
• B) $5.
• C) $6.
• D) $8.

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Definitions:

Price Revolution

A period of marked inflation in Europe from the 15th to the 17th century, largely due to the influx of silver and gold from the New World and growing population.

Sixteenth Century

The period from 1501 to 1600, marked by significant developments in art, exploration, and cultural exchange across the world.

Inflation

The rate at which the general level of prices for goods and services is rising, and, subsequently, purchasing power is falling.

Elizabeth I

Queen of England and Ireland from 1558 until her death in 1603, known for her strong and pragmatic leadership during a time of religious and political turmoil.