A Used Car Was Recently Priced at $20,000

question 314

Multiple Choice

A used car was recently priced at $20,000.00. Seeing the car, Bobby thought, "It's nice, but if I have to pay more than $19,500 for this car, then I would rather do without it." After negotiations, Bobby purchased the car for $19,250.00. His consumer surplus was equal to

• A) $19,500.00.
• B) $1,750.00.
• C) $250.00.
• D) $0.00.

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Definitions:

Family Studies

A field of study that examines family structures, dynamics, and relationships to understand their impact on individual behavior and societal trends.

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The specific procedures or techniques used to identify, select, process, and analyze information about a topic.

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