Suppose Dan Is Willing to Pay a Maximum of $3,000

question 107

Multiple Choice

Suppose Dan is willing to pay a maximum of $3,000 for a piano, but finds one he can buy for $2,500. Dan's consumer surplus from this piano is

• A) $5,500.
• B) $2,500.
• C) $3,000.
• D) $500.
• E) zero because he buys the piano.

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Definitions:

Sperm Duct

Also known as the vas deferens, it is a tube that carries sperm from the epididymis to the ejaculatory ducts in anticipation of ejaculation.

Testes

The male reproductive organs that produce sperm and hormones, primarily testosterone.

Vesicular Follicle

A mature ovarian follicle that contains a fully grown ovum, or egg cell, surrounded by a fluid-filled cavity.

Ovarian Cycle

Monthly changes occurring in the ovary that determine the level of sex hormones in the blood.