Consumer Surplus Measures

question 60

Multiple Choice

Consumer surplus measures

• A)The difference between the maximum price a consumer is willing to pay and the price actually paid.
• B)The difference between the minimum price a consumer is willing to pay and the price actually paid.
• C)The difference between the amounts of a good a consumer is willing to pay,and how much of the good is available for sale.

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Definitions:

Enhance

To improve the quality, value, or extent of something; in technology, this could refer to improving image quality, sound, or performance of devices and software.

Delete

The action of removing or erasing files, texts, records, or data from a storage medium or software application.

Volume Control

A feature or device that allows the user to adjust the audio output level of speakers or a digital system.

Slider Tool

A graphical user interface element that allows the user to adjust a value or change a scale by moving a handle along a bar.