Which of the Following Would Be the Best Example of Consumer

question 167

Multiple Choice

Which of the following would be the best example of consumer surplus?

• A) Jane pays $30 a month for phone service even though it is worth $70 to her.
• B) Sam refuses to pay $10 for a hair cut because it is only worth $8 to him.
• C) Fred buys a car for $4,000, the maximum amount that he would be willing to pay for it.
• D) When Sue purchases a candy bar for $.50, she uses a $20 bill to pay for it.

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Definitions:

Encrypted

The process of converting information or data into a code, especially to prevent unauthorized access.

Electronic Stamp

A digital equivalent of a physical postage stamp or seal, used to authenticate electronic documents or transactions.

Plain Text Content Control

A feature in word processing software that allows for the insertion and management of unformatted text in a document.

Fill-In Field

A placeholder within a document or form that requires the user to input specific information or data.