What Is the Mode in This Group of Numbers: 1,1,1,1,5,6,16,33,1

question 56

Multiple Choice

What is the mode in this group of numbers: 1,1,1,1,5,6,16,33,1

• A)1
• B)3
• C)16
• D)5

---

Definitions:

Willingness to Pay

The utmost price a consumer is ready to pay for a good or service, indicating its perceived value to them.

Consumer Surplus

The gap between the price consumers are ready to pay for a good or service and the price they actually pay.

Complements

Goods or services that are often used together, where the use or consumption of one enhances the use or consumption of the other.

Consumer Surplus

The difference between the total amount that consumers are willing and able to pay for a good or service and the total amount actually paid.