Consumer Surplus Applies Only to Market Demand, Not Individual Demand

question 46

True/False

Consumer surplus applies only to market demand, not individual demand.

---

Definitions:

Endoderm

The innermost layer of cells or tissue of an embryo in early development, from which the digestive tract and associated structures develop.

Digestive Tract

The digestive tract is a series of hollow organs joined in a long, twisting tube from the mouth to the anus, where food is broken down into nutrients.

Extraembryonic Membranes

Membranes that are not part of the embryo but provide protection and support, including the amnion, chorion, yolk sac, and allantois.

Placenta

An organ that develops in the uterus during pregnancy, supplying oxygen and nutrients to the fetus and removing waste products via the umbilical cord.