Any Attempt to Capture a Consumer Surplus, a Producer Surplus

question 71

Multiple Choice

Any attempt to capture a consumer surplus, a producer surplus, or an economic profit is called

• A) profit-maximizing.
• B) rent-seeking.
• C) price discriminating.
• D) efficiency gain.

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Definitions:

Tender of Payment

An offer to pay a debt or obligation by providing money or goods to the owed party.

Tender of Payment

The act of offering to pay a debt or an obligation, usually by offering the exact amount due in a legally recognized form.

Legal Tender

Money that may be offered legally in satisfaction of a debt and that must be accepted by a creditor when offered.

Buyer

An individual or entity that purchases goods or services.