Jeff Decides That He Would Pay as Much as $2,000

question 40

Multiple Choice

Jeff decides that he would pay as much as $2,000 for a new laptop computer.He buys the computer and realizes a consumer surplus of $300.How much did Jeff pay for his computer?

• A)$300.
• B)$1,700.
• C)$2,000.
• D)$2,300.

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Definitions:

Social Comparison

The act of evaluating oneself against the abilities, status, or qualities of other people, which can influence self-esteem and motivation.

Social Reality

Social reality encompasses the norms, beliefs, and collectively agreed-upon constructs that influence how societies operate and individuals interact within them.

Self-esteem

An individual's subjective evaluation of their own worth, encompassing beliefs about personal value and competence.

Self-awareness

The conscious knowledge of one's own character, feelings, motives, and desires, reflecting an understanding of oneself.