Bob Purchases a Book for $6,and His Consumer Surplus Is

question 74

Multiple Choice

Bob purchases a book for $6,and his consumer surplus is $2.How much is Bob willing to pay for the book?

• A)$6.
• B)$2.
• C)$8.
• D)$4.

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Definitions:

Cognitive

Related to the processes of thinking, understanding, learning, and remembering.

Internal

Referring to something situated inside or within; often related to processes or features within an organism or system.

Cognitive Approach

A psychological perspective that focuses on how people think, understand, and know about the world.

Motive States

Psychological conditions that energize and direct behavior towards specific goals or needs fulfillment.