Consumer Surplus Is

question 8

Multiple Choice

Consumer surplus is

• A)equivalent to value in use.
• B)equivalent to value in exchange.
• C)the difference between total expenditure and what consumers have to pay per unit.
• D)total expenditure divided by the price per unit.
• E)the difference between what consumers would be willing to pay and what they have to pay.

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Definitions:

Reinforced

Strengthened or supported, often in the context of materials or structures, but also applicable to behaviors in psychology.

Positive Reinforcement

The presentation of a stimulus following a given behavior in order to increase the frequency of that behavior.

Operant Conditioning

A learning process through which the strength of a behavior is modified by reinforcement or punishment, a principle established by B.F. Skinner.

Behavior

The actions or reactions of an individual, usually in relation to the environment or stimuli; how one conducts oneself.