When the Smiths Were Shopping for Their Present Home, the Asking

question 139

Multiple Choice

When the Smiths were shopping for their present home, the asking price from the previous owner was $250,000.00. The Smiths had decided they would pay no more than $245,000.00 for the house. After negotiations, the Smiths actually purchased the house for $239,000.00. They, therefore, enjoyed a consumer surplus of

• A) $239,000.00.
• B) $5,000.00.
• C) $6,000.00.
• D) $11,000.00.

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Definitions:

Lateral Hypothalamus

A region of the hypothalamus involved in hunger regulation and the initiation of eating behavior.

Ventromedial Hypothalamus

An area of the brain that plays a significant role in regulating hunger and satiety, involved in stopping the sensation of hunger once an individual is full.

Grossly Overweight

A condition of being significantly heavier than is considered healthy or normal, often calculated by a high body mass index (BMI).

Rewarding Pleasure

A feeling of happiness or satisfaction derived from an activity that is perceived as rewarding.