If a Producer Offers a Price That Is in Excess

question 48

Multiple Choice

If a producer offers a price that is in excess of a consumer's valuation of the good,the consumer:

• A) must buy the good at that price.
• B) will refuse to purchase the good.
• C) must revalue the good.
• D) None of the statements associated with this question are correct.

---

Definitions:

Risk Management

The identification, assessment, and prioritization of risks followed by the application of resources to minimize, control, and monitor the impact of unpredictable events.

Risk Reduction Strategy

A plan or approach aimed at minimizing the likelihood and impact of negative events or losses.

AIDS

Acquired Immune Deficiency Syndrome, a life-threatening condition caused by the human immunodeficiency virus (HIV), which severely damages the immune system.

Antibiotic Resistance

The ability of bacteria and other microorganisms to withstand the effects of an antibiotic to which they were once sensitive.