At Prices Below a Consumer's Maximum Willingness to Pay

question 17

Multiple Choice

At prices below a consumer's maximum willingness to pay:

• A)the buyer will participate in the market because the opportunity cost is less than the benefit from having the good.
• B)the buyer will participate in the market because the opportunity cost is more than the benefit from having the good.
• C)the buyer will not participate in the market because the opportunity cost is less than the benefit from having the good.
• D)the buyer will not participate in the market because the opportunity cost is more than the benefit from having the good.

---

Definitions:

Charles Darwin

A 19th-century naturalist known for his contributions to the theory of evolution and natural selection.

Human Psyche

The total sum of the human mind, including feelings, thoughts, behaviors, and subconscious elements.

Human Behavior

Actions and mannerisms exhibited by humans, influenced by culture, attitudes, emotions, values, ethics, and genetics.

Product Manual

A document provided with a product, containing detailed information on how to use, maintain, and troubleshoot the product.