Use the Figure to Answer the Following Question(s)

question 13

Multiple Choice

Use the figure to answer the following question(s) .
Figure 10-2
-What price should a competitive price-searcher firm with the cost and demand conditions depicted in Figure 10-2 charge if it wants to maximize its profit?

• A) $5
• B) $7
• C) $8
• D) $10

---

Definitions:

Individual Differences

Variations among individuals in their behavior, personality, cognitive abilities, and emotions.

Personality Coefficient

A statistical measure that quantifies the degree of association between personality traits and specific outcomes or behaviors.

Situationism

A theory in psychology that suggests behavior is determined more by situations and environmental factors than by person-specific traits.

Relative Consistency

The concept that an individual's behavior may change across different situations but remains relatively consistent compared to the behavior of other individuals across those same situations.