The Difference Between the Marginal Benefit from a New Pair

question 154

Multiple Choice

The difference between the marginal benefit from a new pair of shoes and the price of the new pair of shoes is

• A) the consumer surplus from that pair of shoes.
• B) what we get.
• C) what we have to pay.
• D) the price when the marginal benefit is maximized.
• E) the consumer's expenditure on the shoes.

---

Definitions:

Price Of Wheat

The current market value at which wheat per unit (such as a bushel) can be bought or sold.

Product Supply Curve

A graphical representation showing the relationship between the price of a product and the quantity of the product that producers are willing and able to supply.

Firms Leaving

The process of companies exiting a market or industry, often due to unprofitability or strategic realignment.

Technique Of Production

The specific methods, tools, and processes used in the production of goods and services.