Suppose That Irina Is Prepared to Pay a Maximum of $2.40

question 40

Multiple Choice

Suppose that Irina is prepared to pay a maximum of $2.40 for her first glass of cranberry juice,but for each subsequent glass she is only prepared to pay 20 cents less than the previous one.
-What is the term for the difference between the consumer's evaluation of a product and the price which is paid for it?

• A)Price discrimination.
• B)Price elasticity of demand.
• C)Consumer indifference.
• D)Consumer surplus.

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