If the Price a Consumer Pays for a Product Is

question 133

Multiple Choice

If the price a consumer pays for a product is equal to a consumer's willingness to pay, then the consumer surplus relevant to that purchase is

• A)zero.
• B)negative, and the consumer would not purchase the product.
• C)positive, and the consumer would purchase the product.
• D)There is not enough information given to answer this question.

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Definitions:

Extreme Poverty

A condition characterized by severe deprivation of basic human needs, including food, safe drinking water, sanitation facilities, health, shelter, education, and information. It depends not only on income but also access to services.

Basic Human Needs

Fundamental requirements necessary for individuals to live a healthy and comfortable life, including food, water, shelter, and clothing.

Industrially Advanced

Pertains to countries or regions with highly developed industries, including large manufacturing and technology sectors, contributing to strong economic growth.

Trade Barriers

Measures implemented by countries to restrict or control international trade, such as tariffs or quotas.