Which of the Following Is an Example of Consumer Surplus

question 345

Multiple Choice

Which of the following is an example of consumer surplus?

• A) Jose buys a hamburger for $2 and tells you he would not have paid a penny more.
• B) John believes the price he paid for his computer was too high.
• C) Mary buys a paper tablet for $2 and finds the same good at another store for $1.50.
• D) Sue would have paid $15 for a new compact disc but paid only $10.
• E) Anne finds a mountain bike for which she is willing to pay a maximum of $550 and the price of the bike is $600.

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Definitions:

Personality Type Theory

A framework or approach for analyzing and categorizing individual differences in personality based on identifiable patterns of behavior and thought.

John Holland

An American psychologist renowned for developing the theory of career choice based on personality types.

Realistic

Pertaining to acknowledging and dealing with facts or situations as they truly are, without idealism.

Conventional

Adhering to established norms, standards, or traditions; often suggesting a lack of novelty or innovation.