If You Are Willing to Pay No More Than $4

question 49

Multiple Choice

If you are willing to pay no more than $4 for a slice of pizza and the price of a slice of pizza is $4,then

• A) if you buy it, you would be cheated because you would realize no total benefit from the purchase.
• B) you buy it but you get no marginal benefit from the purchase.
• C) you will not buy it.
• D) you buy it but you get no consumer surplus from the purchase.
• E) you might buy it depending on how the slice's marginal benefit compares to its price.

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Definitions:

ILO

The International Labour Organization, a United Nations agency that sets international labor standards and promotes rights at work.

Social Justice

The pursuit of fairness and equality within a society, addressing issues of inequality, discrimination, and injustice through various forms of activism and reform.

Human Rights

Fundamental rights that every individual is entitled to regardless of nationality, place of residence, sex, national or ethnic origin, color, religion, language, or any other status.

Core Labor Standards

Fundamental labor rights that include the elimination of forced labor, child labor, discrimination in employment, and the recognition of the right to collective bargaining.