A Consumer's Willingness to Pay Directly Measures

question 62

Multiple Choice

A consumer's willingness to pay directly measures

• A)the extent to which advertising and other external forces have influenced the consumer's preferences.
• B)the cost of a good to the buyer.
• C)how much a buyer values a good.
• D)consumer surplus.

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Definitions:

Dopamine

A chemical messenger that plays a critical role in controlling body movement, focus, memory, motivation, and the reward system.

GABA

Gamma-Aminobutyric Acid, a neurotransmitter in the brain that inhibits or reduces activity of neurons.

Serotonin

A neurotransmitter involved in the regulation of mood, appetite, and sleep, and has some cognitive functions, including memory and learning.

Sleep Needs

The amount of sleep required by an individual to function optimally, which varies by age and individual differences.