Emily Is on a Diet

question 72

Multiple Choice

Emily is on a diet. For lunch, she has the choice of a salad with fat-free dressing or a fruit plate. However, she does not like either of them. This situation is an example of a(n) __________.

• A)avoidance-avoidance conflict
• B)approach-approach conflict
• C)approach-avoidance conflict
• D)multiple approach-avoidance conflict

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Definitions:

Competitive Market

A market structure characterized by a large number of buyers and sellers, free entry and exit, and a product for which each seller offers an identical product.

Deadweight Loss

A loss in economic efficiency that occurs when equilibrium for a good or service is not achieved or is not achievable.

Price Floor

A government-imposed limit on how low a price can be charged for a product, service, or commodity.

Competitive Price

A pricing strategy where the price of a product or service is set based on the prices of competing products or services in the market.