If a Consumer Is Willing and Able to Pay $20

question 83

Multiple Choice

If a consumer is willing and able to pay $20 for a particular good and if he pays $16 for the good,then for that consumer,consumer surplus amounts to

• A)$4.
• B)$16.
• C)$20.
• D)$36.

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Definitions:

Singular Sense

The unique or individual meaning or perspective of a term or concept.

The Ego

According to Freud, is a psychological mechanism that balances the conflicting needs of the pleasure-seeking id and the restraining superego.

Impulsive

Acting or done without careful consideration of the possible consequences; driven by immediate desires.