The Following Table Shows the Marginal Benefit to an Individual

question 45

Multiple Choice

The following table shows the marginal benefit to an individual of consuming pints of beer. $\begin{array} { c c } \text { Pints af beer } & \text { Marginal Benefit } \\1 & \$ 7.00 \\2 & \$ 5.00 \\3 & \$ 3.00 \\4 & \$ 2.00 \\5 & \$ 1.00 \\6 & \$ 0.50 \\7 & - \$ 1.00\end{array}$ If the price of each pint is $4.00 at this establishment, a rational consumer would purchase

• A)1 beer
• B)2 beers
• C)3 beers
• D)5 beers
• E)6 beers

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Definitions:

Customer-Oriented

An approach by businesses that focuses on creating a positive experience for customers through tailored services and products that meet their needs.

Pricing Strategy

A method or model used by businesses to set the selling price for their products or services, taking into account factors like cost, competition, target market, and overall business objectives.

Upscale Running Gear

refers to high-quality, often expensive, running attire and equipment designed for serious or professional athletes seeking performance improvement.

Prestige Product

High-quality goods that are sold at a high price, often seen as status symbols, and used to convey a sense of exclusivity or luxury.