Which of the Following Would Be Considered an Intermediate Good

question 53

Multiple Choice

Which of the following would be considered an intermediate good?

• A) The pencil you are using to take this exam.
• B) A computer in your instructor's office
• C) The bricks used to construct a new home.
• D) The automobile you drive.

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Definitions:

Consumer Surplus

The variance between what consumers are prepared and capable of spending for a product or service compared to the actual amount they end up paying.

Marginal Utility

The additional satisfaction or utility gained by consuming one more unit of a good or service.

Consumer Surplus

The consumer surplus is the gap between what consumers are ready and capable of paying for a good or service and what they actually spend on it.

Marginal Utility

The augmented satisfaction or value someone derives from the consumption of an extra unit of a good or service.