If Consumers' Surplus Is $30 and the Price Paid for the Good

question 210

Multiple Choice

If consumers' surplus is $30 and the price paid for the good is $50, then the maximum price a buyer is willing and able to pay for the good is

• A)$80.
• B)$30.
• C)$50.
• D)$20.

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Definitions:

Demand

The consumer's desire and willingness to pay a price for a specific good or service.

Buyer-supplier Relationship

The dynamic interaction between companies that buy goods and services and those that sell them.

Strategic Items

Products or components critical to a company's competitive position and operational performance.

Availability

The degree to which a product, service, or resource is obtainable or accessible.