Which of the Following Values Will the Expression 15

question 64

Multiple Choice

Which of the following values will the expression 15 % 4 return?

• A) ​1
• B) ​11
• C) ​3
• D) ​60

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Definitions:

Total Surplus

The sum of consumer and producer surplus, representing the total net benefit to society from the production and consumption of a good or service.

Gains From Trade

Gains achieved by dividing tasks and trading; in this way people can get more of what they want through trade than they could if they tried to be self-sufficient.

Total Surplus

The sum of consumer surplus and producer surplus; a measure of the total benefit to society from a market transaction.

Consumer Surplus

The differential between consumers’ readiness to pay a certain amount for a service or good and the payment completed.