Amanda Buys a Ruby for $240 for Which She Was

question 170

Multiple Choice

Amanda buys a ruby for $240 for which she was willing to pay $340. The minimum acceptable price to the seller, Tony, was $190. Amanda experiences

• A)a consumer surplus of $580, and Tony experiences a producer surplus of $200.
• B)a consumer surplus of $100, and Tony experiences a consumer surplus of $150.
• C)a producer surplus of $200, and Tony experiences a consumer surplus of $100.
• D)a consumer surplus of $100, and Tony experiences a producer surplus of $50.
• E)a producer surplus of $100, and Tony experiences a consumer surplus of $190.

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Definitions:

Lewin's Force Field Model

Lewin's Force Field Model is a concept that identifies and analyses the forces that influence change within organizations, including driving and restraining forces.

Cultural Setting

The environment made up of cultural beliefs, practices, customs, and behaviors that influence social interactions within a particular group or society.

Ethical Concerns

Issues or situations that require a person or organization to choose between actions that must be evaluated as right or wrong.

Organizational Change Strategy

A plan employed by a company to transform its structure, operations, culture, or processes.