A Consumer's Willingness to Pay Additional Money for Time-Saving Goods

question 25

Multiple Choice

A consumer's willingness to pay additional money for time-saving goods depends primarily on _____

• A)the opportunity cost of his or her time.
• B)the wealth and property he or she possesses.
• C)his or her social status.
• D)the number of people in his or her household.
• E)the distance between his or her home and workplace.

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Definitions:

Past Causes

The events or actions that have happened in the past and have led to the occurrence of current events or situations.

Soft Determinism

A thesis that accepts determinism but claims that certain kinds of causes—namely, a person’s character—will allow us to call his or her actions free. The soft determinist is therefore a compatibilist, who believes in both freedom and determinism.

Responsible

Having an obligation to do something, or having control over or care for someone, as part of one's job or role.

Determined Actions

Refers to actions whose outcomes are influenced or dictated by prior conditions or laws, suggesting a lack of free will.