Which of the Following Is True

question 325

Multiple Choice

Which of the following is true?

• A) The height of the demand curve for a product at a given quantity represents the marginal value derived by the consumption of that unit.
• B) The height of the demand curve for a product at a given quantity reflects the total value consumers derive from all units of the good consumed.
• C) The total area above the demand curve for a product is equal to consumer surplus.
• D) At every quantity, the height of the demand curve for a product represents the cost of producing that unit.

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Definitions:

Procurement

The process of sourcing and acquiring goods and services from external sources for an organization.

E-sourcing

The process of acquiring goods or services for business use through online platforms and electronic negotiations.

E-procurement

Electronic procurement involves the use of online systems and tools to conduct the purchasing process and obtain goods and services.

Data Management

The process of collecting, storing, organizing, and maintaining the data created and collected by an organization.