Refer to the Following Scenario to Answer the Following Questions

question 35

Multiple Choice

Refer to the following scenario to answer the following questions.
Five fishermen live in a village and have no other employment or income-earning possibilities besides fishing.They each own a boat that is suitable for fishing but does not have any resale value.Fish are worth $5 per pound,and the marginal cost of operating the boat is $500 per month.They all fish a river next to the village.According to the following schedule,they have determined that when there are more of them out on the river fishing,they each catch fewer fish per month.

-How many fishermen will choose to operate their boats?

• A) one
• B) two
• C) three
• D) four
• E) five

---

Definitions:

Stimulus Set Point

The threshold at which a stimulus is strong enough to elicit a response or reaction.

Just Noticeable Difference

The minimum difference in stimulation that a person can detect 50% of the time, a concept also known as the threshold of sensation.

Absolute Threshold

The minimum intensity of stimulation that must be achieved in order for a stimulus to be detected 50% of the time.

Taste Cells

Specialized sensory cells located on the taste buds of the tongue, responsible for perceiving different flavors such as sweet, salty, bitter, and sour.