A Group of 9 Consumers Are Trying to Decide Whether

question 18

Multiple Choice

A group of 9 consumers are trying to decide whether to connect to a new communications network.Consumer 1 is of type 1, consumer 2 of type 2, consumer 3 of type 3, and so on.Each consumer's willingness to pay to belong to the network is proportional to the number of consumers who belong.Where k is the number of consumers who belong, the willingness to pay of a type n consumer is equal to k times n.What is the highest price at which 7 consumers could all connect to the network and either make a profit or at least break even?

• A)$23
• B)$19
• C)$18
• D)$26
• E)$21

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Definitions:

Altered State

An altered state is a condition of consciousness distinctly different from normal waking state due to factors like meditation, drugs, or sleep.

Consciousness

The condition or characteristic of being conscious of an external entity or an internal aspect of oneself.

Altered States

Conditions in which the mind's perception of the world is significantly different from normal, such as during meditation, hypnosis, or drug-induced experiences.

Consciousness

The state of being awake and aware of one's surroundings and experiences.