Consumer Surplus

question 43

Multiple Choice

Consumer surplus

• A)is closely related to the supply curve for a product.
• B)is represented by a rectangle on a supply-demand graph when the demand curve is a straight,downward-sloping line.
• C)is measured using the demand curve for a product.
• D)does not reflect economic well-being in most markets.

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Definitions:

Guilt Feelings

Emotional experiences that occur when a person believes or perceives they have compromised their own standards of conduct or a moral standard.

Impulsive Behavior

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A psychological condition marked by fluctuating emotional states, actions, and interpersonal connections.