Jared Declines to Purchase a New Bicycle Priced at $200

question 115

Multiple Choice

Jared declines to purchase a new bicycle priced at $200.An economist would conclude that:

• A)Jared does not enjoy riding a bicycle.
• B)the expected marginal benefit of the bicycle to Jared exceeds $200.
• C)the expected marginal benefit of the bicycle to Jared is less than $200.
• D)the expected marginal benefit of the bicycle to Jared is less than $100.
• E)the bicycle seller is trying to take advantage of Jared by charging an exorbitant price.

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Definitions:

Human Behavior

The range of actions and mannerisms made by individuals in conjunction with themselves or their environment, which includes the other systems or organisms around as well as the physical environment.

Human Personality

The combination of characteristics or qualities that form an individual's distinctive character, influencing their patterns of thought, feelings, and behavior.

Sigmund Freud

An Austrian neurologist who founded the discipline of psychoanalysis, a method for treating psychopathology through dialogue between a patient and a psychoanalyst.

Personality Systems

The organized set of personality traits and mechanisms within the individual that are influenced by and interact with the external environment.