Weber's Law Is I/I = K;and Values for K Are

question 75

Multiple Choice

Weber's Law is I/I = K;and values for K are: .02 for weight;.08 for brightness;and .03 for length.If a line is 30" long,what is the minimum change in length before one would notice a difference between the two?

• A).9"
• B).6"
• C).3"
• D)none of the above

---

Definitions:

Producer Surplus

The difference between what producers are willing to sell a good for and the actual price they receive, representing a measure of producer welfare.

Consumer Surplus

The difference between what consumers are willing to pay for a good or service and what they actually pay, reflecting the economic benefit to consumers.

Tax

An obligatory financial obligation or other form of levy placed on a taxpayer by a government agency to fund government operations and diverse public spending.

Price Paid

Price paid refers to the actual amount of money exchanged for the acquisition of a good or service.