A Consumer Is Willing to Purchase a Product Up to the Point

question 171

Multiple Choice

A consumer is willing to purchase a product up to the point where

• A)he spends all of his income.
• B)the marginal benefit is equal to the price of the product.
• C)the quantity demanded is equal to the quantity supplied.
• D)he is indifferent between consuming and saving.

---

Definitions:

Task

A piece of work to be done or undertaken, which can vary in complexity from simple to complex.

Job Satisfaction

The level of contentment employees feel about their work, which can affect their performance and overall well-being.

Heritable

Capable of being passed from one generation to the next through genetic information.

Human-Relations Approach

An approach in organizational management that emphasizes the importance of understanding human motivations, group dynamics, and interpersonal processes in the workplace.