Market Consumer Surplus

question 82

Multiple Choice

Market consumer surplus

• A)is the area under the demand curve and above market price, up to the quantity actually bought.
• B)is equal to total market revenue minus cost.
• C)does not depend on the quantity sold.
• D)is the area under the market price and above the marginal cost curve.

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Definitions:

Partnership Assets

Assets that are owned by a partnership and used in the operation of the business.

Current Values

The present market value of an asset or financial instrument, which can fluctuate over time based on market conditions.

Asset Accounts

consist of all accounts that track the assets owned by an entity, including cash, inventory, property, and equipment.

Cost

The amount of money required to purchase something or the value of the resources expended to acquire an item or service.