The CHOOSE Function Can Return a Value or a Range

question 18

Multiple Choice

The CHOOSE function can return a value or a range for up to ____ different values.

• A) 12
• B) 157
• C) 202
• D) 254

---

Definitions:

Marginal Utility

The supplementary utility or enjoyment obtained by consuming an additional unit of a good or service.

Consumer Surplus

Consumer surplus is the difference between the total amount that consumers are willing and able to pay for a good or service and the total amount that they actually pay.

Deadweight Loss

Reductions in combined consumer and producer surplus caused by an underallocation or overallocation of resources to the production of a good or service. Also called efficiency loss.

Producer Surplus

is the difference between what producers are willing to accept for a good or service versus what they actually receive, due to market prices.