Solved

Which of the Following Statements Best Describes the Concept of Consumer

Question 1

Multiple Choice

Which of the following statements best describes the concept of consumer surplus?


A) "I paid $89 for a microwave oven last week.This week the same store is selling the same microwave oven for $69."
B) "I sold my hard copy of Harry Potter and the Half-Blood Prince to a used book store for $10 even though I was willing to sell it for $5."
C) "Target was having a sale on tube socks so I bought 5 pairs."
D) "I was going to pay $200 for new sunglasses that I had seen at the Oakley store but I ended up paying only $140 for the same sunglasses."

Correct Answer:

verifed

Verified

Related Questions

Q2: Brett buys a new cell phone for

Q3: Table 4-2
Table 4-2 </p></div><svg width=

Q4: In Venezuela,the government attempted to control rising

Q5: The difference between the _ for a

Q6: Juanita goes to the Hardware Emporium to

Q7: Table 4-2
Table 4-2 </p></div><svg width=

Q8: Table 4-2
Table 4-2 </p></div><svg width=

Q9: The additional benefit to a consumer from

Q10: Marco goes to the pet store to

Q11: Table 4-1
Table 4-1 </p></div><svg width=

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents