(Figure: Maximum Willingness to Pay) Refer to the Figure

question 50

Multiple Choice

(Figure: Maximum Willingness to Pay) Refer to the figure.What is the maximum price that the consumer is willing topay for 100 units?

• A)$100
• B)$80
• C)$75
• D)$90

---

Definitions:

Tendency

An inclination towards a particular type of behavior, action, or thought.

Possibilities

Various potential outcomes or options that may arise from a given situation or set of circumstances.

Simulation Heuristic

A cognitive process people employ to assess the frequency or likelihood of events based on how easily they can imagine those events occurring.