Which of the Following Statements Best Captures the Concept of Consumer

question 40

Multiple Choice

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

• A)"I saw a sale for flowers,so I bought four bundles."
• B)"I was willing to pay $30 for a dozen roses,but I bought them for $20."
• C)"I was willing to pay $30 for roses,but they are selling for $35,so I did not buy."

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Definitions:

Mere Exposure Effect

The phenomenon that repeated exposure to novel stimuli increases liking of them.

Self-Disclosure

The act of revealing intimate aspects of ourselves to others.

Bystander Effect

A psychological phenomenon where individuals are less likely to offer help to a victim when other people are present.

Food Court

A large area within a shopping mall or complex where various food vendors offer meals from multiple cuisines, with common seating available.