Videoconferencing Is Advantageous Because ______

question 41

Multiple Choice

Videoconferencing is advantageous because ______.

• A) you can see who you are talking to
• B) you can avoid face to face confrontations
• C) you can discern emotions
• D) you can just talk to the people you want

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Definitions:

Deadweight Loss

A loss of economic efficiency that can occur when the equilibrium for a good or a service is not achieved or is not achievable.

Consumer Surplus

The difference between the total amount that consumers are willing to pay for a good or service and the total amount they actually do pay.

Consumer Surplus

The difference between what consumers are willing to pay for a good or service and what they actually pay, indicating the economic benefit to consumers.

Equilibrium Price

The price at which the quantity of a good or service demanded by consumers equals the quantity supplied by producers.