As a Consumer You Believe Yourself to Act Rationally,optimally and Self-Interestedly.You

question 11

Multiple Choice

As a consumer you believe yourself to act rationally,optimally and self-interestedly.You like ice cream and value a pint at $7.Usually you buy a pint each week at $4.This week however,the price jumped to $5 a pint.What would you do?

• A)​buy the ice cream since the price is still below your maximum willingness to pay
• B)buy the ice cream since even at the new price it gives you a positive amount of consumer surplus
• C)not buy the ice-cream since the price is now higher
• D)​both A&B

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Definitions:

Ultraviolet Rays

Invisible radiation with wavelengths shorter than visible light but longer than X-rays, capable of producing chemical reactions and causing harm to skin and eyes.

Visual Field

The entire area that can be seen when the eye is directed forward, including peripheral vision.

Retina

The light-sensitive layer of tissue at the back of the inner eye, which converts light images into neural signals sent to the brain.

Fovea

A small depression in the retina where visual acuity is highest due to the concentration of cones.