Scenario 12-3 Suppose Roger and Regina Receive Great Satisfaction from Their Consumption

question 437

Multiple Choice

Scenario 12-3
Suppose Roger and Regina receive great satisfaction from their consumption of cheesecake. Regina would be willing to purchase only one slice and would pay up to $8 for it. Roger would be willing to pay $11 for his first slice, $9 for his second slice, and $5 for his third slice. The current market price is $5 per slice.
-Refer to Scenario 12-3. How much total consumer surplus do Regina and Roger collectively receive from consuming cheesecake?

• A)$3
• B)$6
• C)$9
• D)$13

---

Definitions:

Ethics

The moral principles that govern a person's behavior or the conducting of an activity, often guiding decision-making and actions in a professional setting.

Code of Ethics

A set of principles and rules designed to guide behavior and decision-making within an organization or profession.

Organizational Values

The core principles and beliefs that guide the actions and behaviors of an organization and its members, defining its culture and ethical stance.

Ethical Principles

Fundamental guidelines or moral values that dictate the right and wrong ways of conducting oneself or performing actions.