Suppose That You Are Willing to Pay $25 for a New

question 45

Multiple Choice

Suppose that you are willing to pay $25 for a new shirt and the market price is $35.In this case

• A) you will not buy the good.
• B) you will buy the good and receive a consumer surplus of $5.
• C) you will buy the good and receive a consumer surplus of -$10.
• D) you will buy the good and receive a consumer surplus of -$35.

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Definitions:

Input-Based

Relating to approaches or systems that focus on the resources or efforts expended, rather than the outcomes or results achieved.

Motivation

The process that initiates, guides, and maintains goal-oriented behaviors, involving the biological, emotional, social, and cognitive forces that activate behavior.

Effort

The amount of physical or mental energy expended to achieve a task or goal.

Behaviors

Observable actions or reactions of individuals, often analyzed in psychology and organizational studies to understand human interactions.