Consumer Surplus Is Defined As

question 38

Multiple Choice

Consumer surplus is defined as:

• A)The difference between the discounted amount and the original amount purchased of a good.
• B)The difference between the maximum amount a consumer is willing to pay for a good and the amount he or she must actually pay when purchasing
• C)The difference between the cost of producing a good and its purchase price.
• D)The amount of the good purchased by a consumer over and above the minimum amount that the customer wanted of the good.

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Definitions:

Blank Endorsement

An endorsement on a financial instrument, like a check, where the signature of the endorser is written but no specific endorsee is named, making it payable to the bearer.

Bearer Paper

Bearer paper refers to negotiable instruments, such as checks or bonds, that entitle payment to whoever holds the document.

Order Paper

A document listing the items to be discussed or brought forward in a parliamentary or formal meeting.

Endorser

A person who signs the back of a negotiable instrument, such as a check, thereby transferring ownership or guaranteeing its terms to another party.