The Difference Between the Highest Amount a Buyer Would Be

question 150

Multiple Choice

The difference between the highest amount a buyer would be willing to pay for a good and the amount she actually pays for it is

• A) producers' surplus.
• B) consumers' surplus.
• C) marginal revenue.
• D) marginal utility.

---

Definitions:

Political Economist

An expert or scholar who studies the relationship between politics and the economy, including how political institutions, processes, and decisions affect economic policies and conditions.

Moral Philosopher

A scholar or thinker who specializes in ethical theory and questions of right and wrong, good and bad, virtue and vice, justice, and other moral concepts.

Interaction

The reciprocal action or influence between two or more entities, typically in a social or professional context.

Process Theories

Theories that focus on the psychological and behavioral processes that motivate individuals to achieve certain goals.