If Maria Is Willing to Pay $50 for a Sweatshirt

question 34

Multiple Choice

If Maria is willing to pay $50 for a sweatshirt, how much consumer surplus does she earn if the market price for sweatshirts is $27.50 each?

• A) $27.50
• B) $50.00
• C) $77.50
• D) $22.50

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Definitions:

Acceptance

The action or process of being received as adequate or suitable, typically to be included in a group or to recognize the reality of a situation without attempting to change it.

Stigmatized

Describes individuals, groups, or conditions that are negatively stereotyped, leading to prejudice and discrimination against them.

Deterrence Hypothesis

The theory suggesting that the threat of punishment or negative consequences serves to prevent or reduce the likelihood of unwanted behaviors.

Positive Deviance

An unorthodox or unexpected behavior that deviates from the norm but results in a desirable outcome.