Which of the Following Would Be the Best Example of Consumer

question 167

Multiple Choice

Which of the following would be the best example of consumer surplus?

• A) Jane pays $30 a month for phone service even though it is worth $70 to her.
• B) Sam refuses to pay $10 for a hair cut because it is only worth $8 to him.
• C) Fred buys a car for $4,000, the maximum amount that he would be willing to pay for it.
• D) When Sue purchases a candy bar for $.50, she uses a $20 bill to pay for it.

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Definitions:

Efforts

The amount of physical or mental energy put into a task or activity to achieve a goal.

Career Growth

The progression or advancement in one's professional life, often accompanied by increased responsibilities, skill development, and higher income.

Human Resources Manager

A professional responsible for overseeing the administrative functions of an organization, including recruiting, hiring, and compliance.

Raise

typically denotes an increase in salary or wages given to an employee based on performance, tenure, or negotiation.