Lucy Often Buys Fish and Is Able to Buy It

question 167

Multiple Choice

Lucy often buys fish and is able to buy it for less than she is willing-to-pay.She later learns that fish has more health benefits than she realised.She now values fish even more than before.If the market price of fish does not change then:

• A)Lucy's consumer surplus could go up or down
• B)Lucy's consumer surplus will decrease
• C)Lucy's consumer surplus will be unaffected because the price has not changed
• D)Lucy's consumer surplus will increase

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Definitions:

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The strategy of increasing the market share of an existing product, or promoting a new product, through aggressive marketing and sales techniques.

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