Suppose Brent,Callie,and Danielle Each Purchase a Particular Type of Electric

question 16

Multiple Choice

Suppose Brent,Callie,and Danielle each purchase a particular type of electric pencil sharpener at a price of $20.Brent's willingness to pay was $22,Callie's willingness to pay was $25,and Danielle's willingness to pay was $30.Which of the following statements is correct?

• A)Had the price of the pencil sharpener been $24 rather than $20,only Danielle would have been a buyer.
• B)Brent's consumer surplus is the smallest of the three individual consumer surpluses.
• C)For the three individuals together,consumer surplus amounts to $60.
• D)The fact that all three individuals paid $20 for the same type of pencil sharpener indicates that each one placed the same value on that pencil sharpener.

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Definitions:

Internal Attribution

The inference that a person's behavior is caused by something intrinsic to them, such as their personality, disposition, or character.

External Attribution

The process of attributing the cause of a person's behavior to situational factors outside the individual.

Social Schemas

Cognitive frameworks that help individuals organize and interpret information about social environments and interactions.

Stereotypes

Widely held but fixed and oversimplified images or ideas of a particular type of person or thing, often based on generalizations.