The Wii is a wildly popular home video game console released by Nintendo. The Wii system was first available in the U.S. in November, 2006 and has sold more than 30 million units as of August 2010. The Wii retails for $199. Suppose Ahmed is willing to pay $230, Lana is willing to pay $175, and Bodie is willing to pay $300 for a Wii. Who will purchase a Wii?
A) Ahmed and Bodie
B) Ahmed
C) Lana
D) Ahmed, Bodie, and Lana

Question

Quizplus · Accepted Answer

The highest price among the three potential buyers is Bodie's willingness to pay $300, which is greater than the retail price of $199. Ahmed is also willing to pay more than the retail price, so he would likely purchase the Wii as well. Lana's willingness to pay falls below the retail price, so it is unlikely that she will purchase the Wii. Therefore, only Ahmed and Bodie will purchase a Wii.

The Wii Is a Wildly Popular Home Video Game Console