Kayla and Kevin Are Friends Who Go Together to a Used

question 57

Multiple Choice

Kayla and Kevin are friends who go together to a used textbook seller who has two copies of the biology book that they both need for their class this semester. The cost to the seller of acquiring the books was $25 each and no other students will need this book. Kayla states that she is willing to pay $40 for the book, while Kevin says he is willing to pay $80. Which of the following describes the most likely conclusion to this scenario?

• A) The seller will sell the books to both Kayla and Kevin for $80 each because Kevin's higher value exceeds Kayla's willingness to pay.
• B) The seller will sell the books to both Kayla and Kevin for $40 each because if they tried to charge Kevin a higher price, Kayla would engage in arbitrage.
• C) The seller will sell one book to Kayla for $40 and one book to Kevin for $80 because this market meets all three requirements for price discrimination.
• D) The seller will sell the books to both Kayla and Kevin for $25 each because that is how much the seller paid for the books.

Identify and analyze the factors that influence social structures and relationships, including age and descent.

Compare and contrast different kinship systems and their societal roles.

Examine the role and symbolism of clans, moieties, and phratries in societies.

Understand the implications of living in societies with rigid social stratification like caste systems.

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Definitions:

Mental Set

The inclination to approach situations with a predetermined framework of understanding, often based on former experiences, that could potentially limit novel solutions.

Functional Fixedness

A mental bias that restricts an individual to utilizing an item solely in its conventional manner, impeding creativity and the ability to solve problems.

Water-Jug Problems

A type of problem that tests one's ability to logically figure out how to measure exact amounts of water using jugs of different sizes.

Unnecessary Constraints

Limitations or restrictions that are not required and may hinder problem-solving or creativity.