A Used Car Was Recently Priced at $20,000

question 314

Multiple Choice

A used car was recently priced at $20,000.00. Seeing the car, Bobby thought, "It's nice, but if I have to pay more than $19,500 for this car, then I would rather do without it." After negotiations, Bobby purchased the car for $19,250.00. His consumer surplus was equal to

• A) $19,500.00.
• B) $1,750.00.
• C) $250.00.
• D) $0.00.

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Definitions:

Ethical Culture

The set of shared attitudes, values, goals, and practices that characterizes an institution or organization, specifically regarding moral and ethical issues.

Ethical Code of Conduct

A set of guidelines designed to outline acceptable behaviors and practices for individuals and organizations.

Unethical Behaviors

Actions or practices that are deemed morally wrong, violating social norms or professional standards within a particular context.