When a Buyer's Willingness to Pay for a Good Is

question 57

Multiple Choice

When a buyer's willingness to pay for a good is equal to the price of the good,the

• A)buyer's consumer surplus for that good is maximized.
• B)buyer will buy as much of the good as the buyer's budget allows.
• C)price of the good exceeds the value that the buyer places on the good.
• D)buyer is indifferent between buying the good and not buying it.

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Definitions:

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An economic system based on private ownership of the means of production and their operation for profit.

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