Which of the Following Is an Example of Consumer Surplus

question 78

Multiple Choice

Which of the following is an example of consumer surplus?

• A) Sue would have paid $15 for a new compact disc but paid only $10.
• B) Jose buys a hamburger for $2 and tells you he would not have paid a penny more.
• C) Mary buys a pad of paper for $2 and finds the same good at another store for $1.50.
• D) John believes the price he paid for his computer was too high.
• E) Anne finds a mountain bike for which she is willing to pay a maximum of $550 and the price of the bike is $600.

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Definitions:

Outcome Evaluation

Assessment focused on the actual impacts or outcomes resulting from the implementation of a program or activity.

Outcome Evaluation

The process of determining the results or impacts of an activity or program.

Impact Evaluation

The systematic analysis of the changes that can be attributed to a particular intervention, such as a program or policy.

Process Evaluation

An assessment technique focused on the implementation process of a program or intervention, examining its fidelity, quality, and reach.