What Does BMI Stand For

question 69

Multiple Choice

What does BMI stand for?

• A) body model information
• B) basic mass inventory
• C) body mass index
• D) build massiveness indicator

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Definitions:

Consumer Surplus

The discrepancy between the amount consumers are prepared to spend on a product or service and the actual price they pay.

Consumer Surplus

The gulf between the aggregate amount consumers are willing to allocate for a good or service and what they actually end up paying.

Producer Surplus

The variance between the minimum amount producers are prepared to take for a product and the actual payment they get.

Opportunity Cost

The cost of forgoing the next best alternative when making a decision or choosing between multiple options.