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Which of these methods successfully quantifies the value of a computer to a particular person?

  • Question 1c of 10 - Store policies

  • Maximum Attempts: 1
  • Question Type: Multiple Choice
  • Maximum Score: 2
  • Question: Which of these methods successfully quantifies the value of a computer to a particular person?
  • Answers:
  1. By determining the number of hours the person is willing to work to earn the purchase price of the computer
  2. By figuring out all of the monetary and nonmonetary costs associated with buying a computer
  3. By calculating and comparing all of the monetary costs and benefits of computer ownership
  4. By subtracting all of the production costs from the total revenue the computer helps the person earn

The correct answer is: By determining the number of hours the person is willing to work to earn the purchase price of the computer. By putting the value of the good into working hours, the good is given a numerical value that's meaningful to the consumer.

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