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We’ll test your business knowledge in each issue of Lehigh Business.
We’ll test your business knowledge in each issue of Lehigh Business and give you an opportunity to win bragging rights and Lehigh swag. This Biz Quiz comes courtesy of Danny Zane, associate professor, marketing department.
If You're Happy and You Know It...
Peer-to-peer (P2P) marketplaces continue to grow substantially. On websites like Etsy, Fiverr, UpWork and others, individuals can become business owners overnight. Unlike bigger companies in traditional marketplaces, sellers in these P2P marketplaces can’t advertise around traditional signals of quality such as brand name. They need to market differently.
Instead, sellers in P2P marketplaces have an opportunity to more personally and directly tell potential buyers about themselves and the production processes behind their products and services. One thing that sellers could share is their level of production enjoyment—how much pleasure and fun they get from producing a good or service. That Etsy shop owner could mention how they really enjoy making a particular piece of jewelry. That freelance marketer could mention how they love creating digital marketing campaigns.
Question
When a seller has high production enjoyment, and makes that known to potential buyers, how does it impact the price the seller is willing to charge (WTC) for that good or service and the price buyers are willing to pay (WTP) for it?
A) Decreases seller’s WTC; Increases buyers’ WTP
B) Decreases seller’s WTC; Decreases buyers’ WTP
C) Increases seller’s WTC; Increases buyers’ WTP
D) Increases seller’s WTC; Decreases buyers’ WTP
Think you know the answer?
Submit your answer to lehighbusiness@lehigh.edu by Jan. 1, 2026. We’ll post the correct answer by Jan. 16, 2026. One winner will be randomly selected from all of the correct answers and receive some Lehigh swag.