Consumers' Total Benefit from Consuming a Good Is Equal to the

question 188

Multiple Choice

Consumers' total benefit from consuming a good is equal to the

• A) total amount spent on the good.
• B) consumer surplus on the quantity purchased.
• C) consumer surplus plus the total amount spent on the good.
• D) consumer surplus minus the total amount spent on the good.
• E) total amount spent on the good divided by the number of units purchased.

---

Definitions:

Accession

Accession is the act of agreeing to or adhering to an international treaty or the process of adding to one's possessions or territory.

Increase Value

To enhance the worth or price of something through improvements or through natural economic factors.

Diamond

A precious gemstone made of crystallized carbon, known for its extreme hardness and light-reflecting qualities.

Acquisition

The process of obtaining control of another company by purchase or exchange of stock.