Caroline Sharpens Knives in Her Spare Time for Extra Income

question 7

Multiple Choice

Caroline sharpens knives in her spare time for extra income.Buyers of her service are willing to pay $2.95 per knife for as many knives as Caroline is willing to sharpen.On a particular day,she is willing to sharpen the first knife for $2.00,the second knife for $2.25,the third knife for $2.75,and the fourth knife for $3.50.Assume Caroline is rational in deciding how many knives to sharpen.Her producer surplus is

• A)$0.95.
• B)$1.15.
• C)$1.30.
• D)$1.85.

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Definitions:

Motivation Process

Involves the psychological forces that determine the direction of a person's behavior in an organization, a person's level of effort, and a person's level of persistence in the face of obstacles.

Achieve Objectives

The process of successfully reaching goals or targets through planned strategies and actions.

Content Theories

Theories that focus on identifying and understanding the specific needs and motives that drive human behavior and satisfaction in organizational contexts.

Different Needs

The varied and unique requirements or wishes of individuals or groups to achieve satisfaction or fulfillment.