After Trying on a Dress, a Consumer Assesses It to Be

question 17

Multiple Choice

After trying on a dress, a consumer assesses it to be worth a maximum of $100 and is willing to pay that amount for the dress. However, the dress was priced at $80. What is the amount, $100, referred to as?

• A) the producer surplus
• B) the firm's cost (C) in manufacturing the dress
• C) the consumer surplus
• D) the value (V) the consumer attaches to the dress

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Definitions:

Second Trimester

The period in pregnancy from the 13th to the 26th week, marked by significant growth and development of the fetus.

Fetal Activity Level

The measure of movement and general activity of a fetus inside the womb, which can be an indicator of health and vitality.

Ounces

A unit of weight in the avoirdupois, Troy, and apothecaries' systems, equivalent to 1/16 of a pound.

Eyes

Organs of the visual system in humans and many animals, which allow for the perception of light, leading to vision.