Sir Plus Has a Demand Function for Mead That Is

question 27

Multiple Choice

Sir Plus has a demand function for mead that is given by the equation D(p) = 100 - p.If the price of mead is $95, how much is Sir Plus's net consumer's surplus?

• A)25
• B)6.25
• C)5
• D)12.50
• E)9,500

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Definitions:

Determined

Having a firm decision or a strong will to achieve a particular goal, often characterized by persistence and perseverance.

Competence

The ability of an individual to do a job properly, encompassing knowledge, skills, and experience.

Intrinsic Motivation

A type of motivation driven by an interest or enjoyment in the task itself, rather than external pressures or rewards.

Social Reinforcement

The process of encouraging or strengthening a particular behavior through positive feedback or rewards from others.