Which of the Following Is True?​

question 18

Multiple Choice

Which of the following is true?​

• A)​If the consumer is a buyer of several units of a good, the earlier units will have greater marginal value and therefore create more consumer surplus, because marginal willingness to pay falls as greater quantities are consumed in any period.
• B)​When some units of output can be produced at a cost that is lower than the market price, the seller receives a surplus, or net benefit, from producing those units.
• C)​At the market equilibrium both consumers and producers benefit from trading every unit up to the market equilibrium output.
• D)​All of the above are true.

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Definitions:

McClelland

A reference to David McClelland, an American psychologist known for his work on motivation needs theory, including the needs for achievement, affiliation, and power.

Behavior Modification

The use of empirical and operant conditioning techniques to change or adjust unhealthy or undesirable behaviors.

Criticism

The practice of analyzing, judging, and/or evaluating something, often with the intention of revealing faults or areas of improvement.

Expectancy Theory

A motivational theory suggesting that individuals are motivated to perform if they believe that their efforts will lead to desired performance and reward.