Suppose Your Own Demand Curve for Tomatoes Slopes Downward

question 93

Multiple Choice

Suppose your own demand curve for tomatoes slopes downward.Suppose also that,for the last tomato you bought this week,you paid a price exactly equal to your willingness to pay.Then

• A)you should buy more tomatoes before the end of the week.
• B)you already have bought too many tomatoes this week.
• C)your consumer surplus on the last tomato you bought is zero.
• D)your consumer surplus on all of the tomatoes you have bought this week is zero.

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Definitions:

John Watson

An American psychologist who established the psychological school of behaviorism, emphasizing the study of observable behavior and the role of the environment as a determinant of behavior.

Behaviorism

Watson’s view that science must study observable behavior only and investigate relationships between stimuli and responses.

Tabula Rasa

A theory that individuals are born without built-in mental content, and that all knowledge comes from experience or perception.

John Locke

An English philosopher and physician, widely regarded as one of the most influential Enlightenment thinkers and commonly known as the "Father of Liberalism."