In Order to Get 5-Year-Old Mikah to Eat More Broccoli

question 101

Multiple Choice

In order to get 5-year-old Mikah to eat more broccoli, Mikah's parents should

• A) serve and eat broccoli.
• B) offer a cookie to Mikah if he eats broccoli.
• C) restrict his access to tastier foods.
• D) keep Mikah at the table until he finishes his broccoli.

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Definitions:

Buyer Surplus

Buyer surplus is the difference between the maximum amount a consumer is willing to pay for a good or service and the actual amount paid.

Producer Surplus

The difference between the amount producers are willing to supply a good for and the actual amount they receive (or market price).

Minimum Price

The lowest possible price at which a product or service can be sold, often regulated by governments to protect producers or consumers.

Buyer Surplus

The difference between the highest price a consumer is willing to pay for a good or service and the actual price they pay.