Question

If Thelma's willingness to sell her homemade fudge is $4, then at which of the following prices would Thelma sell her fudge?

a) $2
b) $5
c) $3
d) $6

Answer 1

Thelma would sell her homemade fudge at prices b) $5 and d) $6, as they are both above her willingness to sell price of $4. She would not sell at prices a) $2 and c) $3 because these are below her minimum selling price.

Step-by-step explanation:

If Thelma's willingness to sell her homemade fudge is $4, she would sell her fudge at any price that is higher than her willingness to sell. Therefore, the options available are b) $5, and d) $6. Both of these prices exceed her minimum selling price of $4. She would not sell at options a) $2 or c) $3 because these prices are below her willingness to sell her fudge. Thelma's willingness to sell represents the minimum price at which she is willing to part with her goods.