If You Had Been Willing to Pay R21

question 6

Multiple Choice

If you had been willing to pay R21.90 for the litre of milk purchased at the supermarket, but were required to pay only R12.90, you have gained

• A) a refund of R9.00 from the cashier.
• B) a consumer surplus amounting to R9.00.
• C) excess marginal benefit of R21.90.
• D) producer surplus of R9.00.

Learn about attachment theory and the role of the caregiver in forming secure attachments.

Understand the concept of goodness of fit and its significance in child development.

Acknowledge the effectiveness of crying as a communication tool in the infant-caregiver relationship.

Recognize cultural differences in raising children and their effects on temperament and autonomy.

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Definitions:

Marginal Costs

The increase in total production cost that arises from producing one additional unit of a good or service.

Average Fixed Cost Curve

A graph that shows the fixed costs of production divided by the quantity of output produced, illustrating how these costs dilute over larger production volumes.

U-Shaped

A descriptive term often used in economics and statistics to describe a graph or curve that resembles the shape of the letter "U", indicating a particular kind of relationship or trend.

Positive Amount

A value that is greater than zero, indicating a quantity that adds to a total rather than subtracting from it.