If the Price a Buyer Pays for a Good Is

question 171

Multiple Choice

If the price a buyer pays for a good is $50 and the maximum price she would be willing and able to pay is $53,then ____________ is _______________.

• A) producers' surplus; $103
• B) consumers' surplus; $103
• C) consumers' surplus; $3
• D) producers' surplus; $3
• E) consumers' surplus; $40

---

Definitions:

Construction Firm

A company that specializes in building and designing infrastructure, buildings, and other architectural projects.

Control Problems

Issues arising from the attempt to monitor or regulate processes, people, or systems, which can lead to inefficiency or loss of focus.

Internal Auditing

The ongoing evaluation of a company's operations and performance by a dedicated internal department to ensure compliance and efficiency.

External Auditing

The examination of financial records by an independent third party, to ensure the accuracy and compliance with established standards and regulations.