Multiple Choice
As a consumer you believe yourself to act rationally,optimally and self-interestedly.You like ice cream and value a pint at $7.Usually you buy a pint each week at $4.This week however,the price jumped to $5 a pint.What would you do?
A) buy the ice cream since the price is still below your maximum willingness to pay
B) buy the ice cream since even at the new price it gives you a positive amount of consumer surplus
C) not buy the ice-cream since the price is now higher
D) both A&B
Correct Answer:
Verified
Correct Answer:
Verified
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