Total Surplus Is

question 84

Multiple Choice

Total surplus is

• A)the total cost to sellers of providing the good minus the total value of the good to buyers.
• B)the total value of the good to buyers minus the cost to sellers of providing the good.
• C)the difference between consumer surplus and sellers' cost.
• D)always smaller than producer surplus.

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Definitions:

Test Results

The outcome or findings from various types of medical tests used to detect, diagnose, or monitor diseases, conditions, or the function of organs and systems.

Common Fate

A principle in Gestalt psychology stating that elements moving in the same direction are perceived as more related than elements moving in different directions or stationary.

Good Continuation

Good continuation is a principle in Gestalt psychology that describes the tendency for the human visual system to perceive connected lines and patterns as continuing in a smooth, uninterrupted direction.

Proximity

The principle suggesting that objects that are physically close to each other tend to be perceived as belonging together.