Table 7-5 For Each of Three Potential Buyers of Oranges, the Table

question 180

Multiple Choice

Table 7-5
For each of three potential buyers of oranges, the table displays the willingness to pay for the first three oranges of the day. Assume Allison, Bob, and Charisse are the only three buyers of oranges, and only three oranges can be supplied per day.
-Refer to Table 7-5. The market quantity of oranges demanded per day is exactly 7 if the price of an orange, P, satisfies

• A)$0.60 < P < $0.75.
• B)$0.60 < P < $2.00.
• C)$0.25 < P < $0.75.
• D)$0.25 < P < $0.60.

---

Definitions:

Consistency Principle

The psychological tendency for individuals to seek harmony and consistency among their beliefs, attitudes, and behaviors.

Sleeper Effect

A delayed increase in the persuasive impact of a message, where the message becomes more effective over time after the initial exposure.

Buzz

The word-of-mouth communication that customers generate about a product, service, or company, often seen as a powerful marketing tool.

Herbal Supplier

A business or individual that provides herbs for medicinal, culinary, or other uses.