Consumer Surplus Is Equal to the

question 32

Multiple Choice

Consumer surplus is equal to the

• A)Value to buyers - Amount paid by buyers.
• B)Amount paid by buyers - Costs of sellers.
• C)Value to buyers - Costs of sellers.
• D)Value to buyers - Willingness to pay of buyers.

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Definitions:

Greater Balance

The concept of achieving a more equitable or harmonious distribution in various aspects of life or systems.

Act Utilitarianism

A form of utilitarianism that assesses each separate act according to whether it maximizes pleasure or minimizes pain, focusing on the consequences of individual actions.

Utilitarian Ethic

A moral philosophy that evaluates the ethical worth of an action based on its consequences, specifically aiming to maximize overall happiness and minimize suffering.

General Welfare

A concept referring to the health, happiness, and fortunes of a person or group.