Answer:
(B) Accept the low price happily
Explanation:
As the customer was willing to pay up to 60 dollars for the item, the offer of 50 dollars will be acceptable as it is creating a consumer surplus of 10 dollars.
The customer will look for his own benefit and to his judgement, the deal is good as it saves 10 dollars.
The amount earn by the seller is irrelevant.
The economic concept that is included in this question can be refered to as positive externality.
<h3 /><h3>What is positive externality?</h3>
This has to do with the term that denotes the benefit that a party would have due to the fact that they engaged in an activity.
In this case, a person would be more likely to get more jobs and more appeal to unterviewers because they have more skills.
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Costs incurred as a result of past irrevocable decisions and irrelevant to future decisions are called opportunity costs.
Sunk costs are funds already spent in the past, and opportunity costs are potential returns not realized on future investments because the capital was invested elsewhere.
Sunk costs are costs that have already been incurred and have no possibility of future recovery. For example, rent, spending on marketing campaigns, or money spent on new equipment can all be considered sunk costs. Sunk costs are also known as past costs.
Sunk costs, also known as retroactive costs, refer to investments already made that cannot be recovered. Examples of irrevocable decisions in corporate sunk costs include marketing, research, installation of new software or equipment, salaries, benefits, or operating expenses.
Learn more about irrevocable decisions at
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