A Consumer's Reservation Price Is the

question 29

Multiple Choice

A consumer's reservation price is the

• A) amount she will pay for a hotel or airline reservation.
• B) minimum amount she will pay for a good or service.
• C) amount that maximizes her surplus.
• D) maximum amount she will pay for a good or service.

Evaluate arguments and reasoning within discussions and written work critically.

Identify failures of critical thinking and understand their consequences.

Discuss the importance of fair-mindedness and reasoning in critical thinking.

Understand the transition from agrarian to industrial economies in America during the 19th century.