Which Scenario Is an Example of Consumer Surplus

question 106

Multiple Choice

Which scenario is an example of consumer surplus?

• A) Bayram was willing to sell his grandmother's china set for $120, so he was thrilled that Miranda was willing to pay $150 for it.
• B) Constant was happy to find a used textbook for $60 because that was exactly the amount of money he budgeted for it.
• C) Brittany was willing to pay $9,000 for a used car, but Tanner would not sell his for less than $9,500.
• D) Ashlynn was overjoyed to find a wedding dress that she liked for $1,280. She had been willing to pay $1,509.

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Definitions:

Adaptation

The process of adjusting or changing to fit new conditions or environments, often through learning or evolution.

Information Triage

The process of prioritizing information based on urgency and importance, to efficiently manage and respond to data.

Social Decentering

Cognitive process in which we take into account another person’s thoughts, feelings, values, background, and perspective.

Information Overload

is a condition where an individual is exposed to more information than they can process, leading to overwhelm or decision-making difficulties.